The relevant bit here is this:
Verifiers SHALL store memorized secrets in a form that is resistant to offline attacks. Memorized secrets SHALL be salted and hashed using a suitable one-way key derivation function. Key derivation functions take a password, a salt, and a cost factor as inputs then generate a password hash.
They are specific about the type of KDF required: "one-way key derivation function".
The examples given later are PBKDF2 and Balloon.
It's essentially like rectangles versus squares. You can create a key derivation function out of anything which passes all the criteria of a password hashing function. But it won't be a particularly performant or useful key derivation function. Likewise you can create a password hashing algorithm out of a dedicated key derivation function, but that's insufficient on its own.
There's no need to get bogged down in the details, just continue recommending a reputable implementation of these algorithms. On the other hand, if you'd like to learn more out of intellectual curiosity, Boneh & Shoup's textbook is good (work in progress) [1]. Galbraith's textbook includes chapters which cover the topic to a depth that's beyond what you're looking for, but you'll learn whatever it is you want to know [2].
Finally, more accessible, informal answers that get the basic idea across are [3], [4].
2. https://www.math.auckland.ac.nz/~sgal018/crypto-book/main.pd...
3. https://security.stackexchange.com/questions/95410/what-is-t...
4. https://crypto.stackexchange.com/questions/70716/key-derivat...
A Key derivation function (KDF) is a basic and essential component of cryptographic systems: Its goal is to take a source of initial keying material, usually containing some good amount of randomness, but not distributed uniformly or for which an attacker has some partial knowledge, and derive from it one or more cryptographically strong secret keys.
Not all KDFs are hash functions, or hash-function based. There are block-cipher based KDFs, stream-cipher based KDFs, etc.Hash functions take arbitrary length input (well, up to some very large maximum size) and provide fixed-length output.
eXtensible Output Functions (XOFs)take arbitrary length input (up to some very large max) and provide arbitrary length output (up to some very large max).
Password Hashing Functions take (at least) three inputs: a unique salt, a secret password, and a tuning parameter (or set of parameters). They use the tuning parameter(s) to change the amount of work needed to compute their outputs. For any set of inputs they produce a deterministic output. The output may or may not be directly suitable for use as a cryptographic key, and may or may not be variable length.
Some password hashing functions are KDFs, taking effectively arbitrary input length and producing effectively arbitrary output length. PBKDF2 and Argon2 are KDFs.
Some password hashing functions are NOT KDFs, having limits on their input & output sizes. Bcrypt is not a KDF and not a hash function: it has a maximum 56-byte input (55 bytes if taking a null-terminated string, 72 bytes max in newer implementations) and a 60-byte output. It's suitable for logins where the password is hashed and compared to the stored hash, but not for directly deriving key material. And it's not necessarily suitable for non-ASCII passwords/passphrases, due to the short input.
> Bcrypt is not a KDF and not a hash function
This is true, but it's also a good example of what I was saying in my other comment. bcrypt is an example of a password hashing function which is not itself a KDF, but which can be used to construct a KDF.
All password hashing functions can be used to construct key derivation functions or simply are key derivation functions. But not all password hashing functions are key derivation functions. Whether or not it would be advisable to use a given password hashing function as a KDF depends, of course. In bcrypt's case you can construct a reasonable KDF. For example: https://github.com/pyca/bcrypt/blob/master/README.rst
Edit: NIST uses "one-way key derivation function" in their requirements, which I like, but that perhaps unfairly excludes other potential functions.