A forecast is what is expected to happen, a report is what is actually happening.
Both can be either numbers that you have to work out what they mean or text that give you interpretation of the raw information. Eventually you will just want the numbers.
Go to yosurfer.com for surf reports they also do forecasts.
Manly Hydraulics Lab. (MHL) give up-to-the-minute reports straight from their wave-rider buoys.
Some sites dress up this raw data and make attractive graphics to show the information.
For example here is some of MHLs simplest data, the current temperature of the water at the Sydney wave-rider buoy.
Note: the sea surface temperature should be the same in both of the above graphics.
This link is to the more complex MHL data for wave height, period and direction:
These are the various MHL buoys off the NSW coast: