The eletric potential at a point is defined as the work done in moving unit charge from infinity to that point: $$ \begin{equation}\begin{aligned} \text{work}&=\text{force}\times \text{distance}\\ W&=F\times r\\ \end{aligned}\end{equation} $$ Electric potential is the work done per unit charge so we divide throughout by $Q$: $$ \begin{equation}\begin{aligned} \color{red}\frac{W}{Q}\color{normal}&=\color{royalblue}\frac{F}{Q}\color{normal}\times r\\ \color{red}V\color{normal}&=\color{royalblue}E\color{normal}\times r\\ V&=\frac{Q}{4\pi\epsilon_0r^2}\times r\\ V&=\frac{Q}{4\pi\epsilon_0r}\\ \end{aligned}\end{equation} $$
Notice that the potential, $V$ does not follow an inverse square law like electric field strength, $E$ does.
Potential difference is more practical
There is an obvious issue with using electric potential in practical situations - finding the work needed to move any charged object from infinity is difficult to determine. We thus use electric potential difference instead.
Instead of measuring work from infinity to a point B, we can measure the work from a point A to B: $$V=V_B-V_A$$ The potential difference would be the difference in the electric potentials associated with A and B.