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Microsoft Sharepoint is a software platform and family of software products used for collaboration and web publishing combined. These capabilities include developing web sites, portals, intranets, content management systems, search engines, wikis, blogs, and other tools for business intelligence and collaboration. SharePoint has a Microsoft Office-like interface, and it is closely integrated with the Office suite.
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From a higher-level point of view, what is the nature of the information you are looking to segment / share? Sites are a great way to segment some users from each other, and organize sub-groups of content. However if the content is highly related and will have identical or similar security applied, it might make sense to use pages.
Basically the answer really depends on the nature of the information and security it needs.