die Binde
bandage
A strip of cloth or elastic material used to dress a wound or support a body part; a bandage.
Der Arzt legte ihm eine Binde um den verstauchten Knöchel.
The doctor put a bandage around his sprained ankle.

bandage / pad / blindfold
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bandage
A strip of cloth or elastic material used to dress a wound or support a body part; a bandage.
Der Arzt legte ihm eine Binde um den verstauchten Knöchel.
The doctor put a bandage around his sprained ankle.

The word 'Binde' (bandage / pad / blindfold) is derived directly from the verb 'binden' (to tie). All meanings describe something that you tie around something or that holds something together.
Kannst du mir helfen, diese Binde um meinen Arm zu binden?
Can you help me tie this bandage around my arm?
The meaning of 'Binde' (bandage / pad / blindfold) becomes clear from the context. In a medical setting (doctor, injury), it means a bandage. In a drugstore, it means a hygiene product. In games or when covering the eyes, it means a blindfold.
Der Sanitäter legte dem verletzten Spieler eine Binde an.
The paramedic put a bandage on the injured player.
When 'Binde' (bandage) means a bandage, it is often used with verbs such as 'anlegen' (to put on), 'wechseln' (to change), or 'wickeln' (to wrap). People also speak of an 'elastische Binde' (elastic bandage).
Die Krankenschwester hat mir gezeigt, wie man die Binde richtig anlegt.
The nurse showed me how to put the bandage on correctly.
association / bandage
'der Verband' and 'die Binde' can both be used in medicine when a wound is protected or a body part is supported. 'Die Binde' refers more to the long strip of cloth or elastic material. 'Der Verband' often refers to the whole thing, meaning the finished covering or support on the wound. So you can make a 'Verband' with a 'Binde'. Learners may confuse the words because they are very close in many everyday situations. However, 'Binde' also has other meanings, for example as a sanitary pad or blindfold; 'Verband' can also be an association.

Sie wickelt eine elastische Binde um den verletzten Fuß.
She wraps an elastic bandage around the injured foot.
Im Krankenhaus wurde der Verband jeden Morgen gewechselt.
In the hospital, the bandage was changed every morning.