Freeze refers to the process of a liquid becoming a solid, such as water becoming ice, or the same process when for materials containing liquid, such as when we freeze meat, or vegetables.
It can be a noun or a verb; as a verb, it can be used both transitively (with an object) or intransitively (without an object):
Do not fill water bottles when you freeze them, because the water will expand when it freezes.
Freeze can also be used as a noun to describe the weather when the temperature goes below 0°C/32°F, as in “an overnight freeze.”
Freeze is also commonly used in many metaphorical ways, where it means to stop all movement:
The authorities can freeze your bank account.
I froze in fear when I saw the bear.
Frieze is a much less common word and has two unrelated meanings: (1) a type of wool (a kind of cloth), and (2) a type of decorative architecture.
The first meaning—the type of wool—is mostly used by specialists, and not commonly known by most English speakers. However, the second, architectural, meaning is known by most educated English speakers.
In architecture, a frieze is a kind of decorative “panel”—a rectangular section of wall carved to show a scene, or other artistic designs, and usually “3-D”; the figures have depth. Friezes are very common in ancient or traditional architecture, but not as much on modern buildings.