Yes, Comment Capture is traditionally used on forms, and Comment History is an append-only history-of-comments field maintained in a Smart Campaign.
We have created multiple fields to use for various comment uses across multiple forms to ensure that any "comments" are kept on file for the required short or long term reference.
Short term - For example for event registrations and field for dietary requirements response. We have this inserted in field "Miscellaneous MKTO A" and this value is kept on record in Marketo only till just after event is held and then value is replaced with NULL so field can be reused in future.
Long term - For example for web contact us form and field for comments response. We have this inserted in field "Comments" so that this value will pass to CRM and marketing/sales team to understand query and take action.