Knowledge:
We should trace 'knowledge' to its root, i.e. 'know' and the various processes of knowing especially, the mental aspects.

From the above we have the following;
Knowledge:
1. facts, information, and skills acquired through experience or education; the theoretical or practical understanding of a subject:
-the sum of what is known: the transmission of knowledge
-information held on a computer system.
-Philosophy: true, justified belief; certain understanding, as opposed to opinion.

2. awareness or familiarity gained by experience of a fact or situation:
http://oxforddictionaries.com/definition/knowledge

Re Philosophy, [however no single agreed upon definition of knowledge exists, and there are numerous theories to explain it. The following quote from Bertrand Russell's "Theory of Knowledge" illustrates the difficulty in defining knowledge.]

Russell wrote:"The question how knowledge should be defined is perhaps the most important and difficult of the three with which we shall deal. This may seem surprising: at first sight it might be thought that knowledge might be defined as belief which is in agreement with the facts. The trouble is that no one knows what a belief is, no one knows what a fact is, and no one knows what sort of agreement between them would make a belief true. Let us begin with belief."

Since there is no single agree definition of 'knowledge' in philosophy, we do not have accept 'justified true belief' as THE definition of what is knowledge. As such, in a philosophical discussion of knowledge, one will have to put forward one's definition of 'what is knowledge' and argue for it.

In the above case, knowledge is a very loose term.

Truth:
Truth is generally defined as knowledge in conformance to reality. Reality is something we do not fully know, so what are we conforming with. Since we do not fully know reality, the only truths we can process are those that are derived from the various frameworks of the 'game of truth' that humans play. For example, if we input certain knowledge and data into the scientific game of truth, we obtain scientific truths. The other types of framework are political, legal, philosophical, logic, mathematics, the conventionals, common senses, etc.

Thus,
knowledge, imo, is as what is defined conventionationally in dictionary, those agreed by various philosophical schools and from other sources.
Truth is a resultant of processed knowledge via the various games of truth.

-- Updated Wed Jun 06, 2012 10:49 pm to add the following --

Papaloko wrote:Are skeptics "bulls****ers" who aim at chaotically disturbing the equilibrium of innovation, or can they be the real unappreciated miners of truth? I'll be the first to say that I love the idea of truth. That is why I question it.

Non-skeptics who cling to 100% certainty of knowledge and truths are not bullsxxxters, but are led (by the evolutionary machinery) by the nose and fed with various shades of 'lies' disguised as truths (processed) to facilitate basic survival.
"There are no absolute truths, there are only perspectives" Nietzche.