M.D. stands for Doctors of Medicine, D.O. is for Doctors of Osteopathic Medicine.
Both D.O.s and M.D.s are fully qualified physicians licensed to prescribe medication and perform surgery. D.O.s, however, belong to a separate yet equal branch of American medical care.
You check Wikipedia for more details:
http://en.wikipedia.org/wiki/Comparison_of_MD_and_DO_in_the_United_States