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In both Illustrator and Photoshop, the Export for Web window has three options at the bottom:
Done, Cancel and Save
Save will save the image for Web with the settings that you have selected.
However, Done and Cancel seem to do exactly the same thing: close the window without performing any saving action.
Why are there two options that seem to do the same thing?
Done - This option will remember the current settings.
Cancel - Resets the settings and closes the dialog.
Source:
Just hover over the buttons and a tooltip will popup.
Cancel will leave those stored settings as they are and exit the dialog. Done will update those stored settings to the current settings and exit the dialog window. There's really only a difference if you changed something and then click Done.