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Molds are a group of fungi called  Hyphomycetes , which are chracterized with having filamentous hyphae, and producing airborne spores or conidia (asexual propagules). In nature, molds are decomposers to recycle nature's organic wastes. In medicine, they are the producers of antibiotics. Fungi are a glomeration of organisms in a separate taxanomic kingdom, in which they differ from Monera (Bacteria), Protista (single-cell eucaryotes mostly), Plants and Animals.
Re: Nail fungus and yeast linked? True fungus and yeast are of the same family. Yeast is caused by Candida and can attack the nails as well as vaginal yeast infections, although from what I understand, they are two different strains of the same family.