Winches: Most winches are designed for horizontal maneuvering, and are equipped with a safety braking system that will automatically lock in place to hold the load. This makes winches unsuitable for lifting or lowering jobs. If you were to use a winch as a hoist, it could cause the gears to strip, and the load to slip.
Hoists: For lifting or lowering jobs, it is recommended to use hoists. They are designed with a braking mechanism that will keep your equipment stable. Hoists are also equipped with a load-limiting switch to help prevent it from lifting more than its max capacity.