Official guide on migrations: Active Record Migrations [3]

• db:create creates the database for the current env
• db:create:all creates the databases for all envs
• db:drop drops the database for the current env
• db:drop:all drops the databases for all envs
• db:migrate runs migrations for the current env that have not run yet
• db:migrate:up runs one specific migration
• db:migrate:down rolls back one specific migration
• db:migrate:status shows current migration status
• db:rollback rolls back the last migration
• db:forward advances the current schema version to the next one
• db:seed (only) runs the db/seed.rb file
• db:schema:load loads the schema into the current env's database

• db:schema:dump dumps the current env's schema (and seems to create the db as well)

• db:setup runs db:schema:load, db:seed

• db:reset runs db:drop db:setup
• db:migrate:redo runs (db:migrate:down db:migrate:up) or (db:rollback db:migrate) depending on the specified migration
• db:migrate:reset runs db:drop db:create db:migrate

More details can be found in Rails sourcecode. https://github.com/rails/rails/blob/master/activerecord/lib/active_recor... [4]

UPDATED for Rails 5:

db:create - Creates the database for the current RAILS_ENV environment. If RAILS_ENV is not specified it defaults to the development and test databases.

db:create:all - Creates the database for all environments.

db:drop - Drops the database for the current RAILS_ENV environment. If RAILS_ENV is not specified it defaults to the development and test databases.

db:drop:all - Drops the database for all environments.

db:migrate - Runs migrations for the current environment that have not run yet. By default it will run migrations only in the development environment.

db:migrate:redo - Runs db:migrate:down and db:migrate:up or db:migrate:rollback and db:migrate:up depending on the specified migration.

db:migrate:up - Runs the up for the given migration VERSION.

db:migrate:down - Runs the down for the given migration VERSION.

db:migrate:status - Displays the current migration status.

db:migrate:rollback - Rolls back the last migration.

db:version - Prints the current schema version.

db:forward - Pushes the schema to the next version.

db:seed - Runs the db/seeds.rb file.

db:schema:load Recreates the database from the schema.rb file.

db:schema:dump Dumps the current environment’s schema to db/schema.rb.

db:structure:load - Recreates the database from the structure.sql file.

db:structure:dump - Dumps the current environment’s schema to db/structure.sql. (You can specify another file with SCHEMA=db/my_structure.sql)

db:setup Runs db:create, db:schema:load and db:seed.

db:reset Runs db:drop and db:setup. db:migrate:reset - Runs db:drop, db:create and db:migrate.

db:test:prepare - Check for pending migrations and load the test schema. (If you run rake without any arguments it will do this by default.)

db:test:clone - Recreate the test database from the current environment’s database schema.

db:test:clone_structure - Similar to db:test:clone, but it will ensure that your test database has the same structure, including charsets and collations, as your current environment’s database.

db:environment:set - Set the current RAILS_ENV environment in the ar_internal_metadata table. (Used as part of the protected environment check.)

db:check_protected_environments - Checks if a destructive action can be performed in the current RAILS_ENV environment. Used internally when running a destructive action such as db:drop or db:schema:load.

Also refer to https://stackoverflow.com/questions/10301794/difference-between-rake-dbm... [5]