Graphic design as a whole is how things look - anything that is not text is graphic design. So for example logo design, designing the next doritos chip bag, hard rock cafe buttons, etc. So anything on a site like a logo or picture would be graphic design.
Web page design is more about usability and the layout of the page - great web designs follow certain rules and customs to make the web site comfortable to browse - the whole idea of web design SHOULD follow the idea of usability because the goal is to keep the user on the page as long as possible. Web design should really be about web usability (a good author on this subject is Jakob Nielsen)