Also designated as Chip or Silicon Chip. Also often designated as IC (Integrated Circuit) even the Microchip is the material, IC is the electronic device carried by the microchip.
The microchip is a small sheet of semiconductor material which is the carrier for the integrated circuit, the microelectronic device. Because microchips almost exclusively are made from silicon they are often designated as Silicon-Chip.
In the final electronic device the chip is invisible because it is imbedded into a plastic housing with usually two rows of connection pins to be monted onto a circuit board. This final element is correctly called a DIP (Dual In-line package) but very often also designated as Chip or Microchip.