I've been using JEFIT for the last 4 months, works well for me. Didn't bother try Fitocracy for too long after downloading it a few weeks ago so I can't make a comparison. Short list of things you can do:
1) Put together routines yourself or download routines made by other members
2) Have everything synced so you can view and change things on your computer
3) Has a resting timer between sets based on what is set in the routine made, can add notes during the workout
4) They recently added a workout summary telling you how long your workout is, how many PRs made, how much weight lifted, how much time you wasted, and a few more stuff. They're not stored though.
5) There are progress plots if that's your kind of thing (
example with my squats)