Are Red buff and Blue buff the same in terms of damage and health, or is one stronger?

The crest of insight(Blue Buff) gives 25 mana regen over 5 seconds plus an additional percentage of maximum mana, and 10% CDR

The crest of cinders (Red Buff) slows the damaged target by up to 24% slow for melee wearers, 15% for ranged, causes basic attacks to deal an additional 8 true damage plus 2x the wearers level, and regenerates 1% of their max health every 5 seconds

So no. They are very different as you can see. They generally help out anyone but of course you should know the blue buff is better for mage and caster intense champions, while the red buff is better for heavy auto attackers.