Well - an attenuator is a general term meaning a device that reduces level. It could be a simple potentiometer that dumps some of the power to ground and absorbs the rest. The problem with a simple pot is that the resistance to the source changes as you turn it. That is why your pickups sound different when your V pots are at full volume.
An L-Pad is made differently, so that the load to the source remains constant as it attenuates the signal. The L-Pad value is specified, such as 8 Ohms, so that it always presents an 8-Ohm load to your amp regardless of the setting. If it were a pot, it could go much lower in value and damage your amp. Am L-Pad is also necessary when using a crossover, so the crossover frequencies stay correct.
Since an L-Pad attenuates by absorbing the energy rather than sending it to ground, it must be able to handle the power you will send to it, so the spec for an L-Pad may be 8 Ohms, 50 Watts.