From Leithart’s blog:
Protestants are people of the word; Catholics are people of the sacraments. That’s the way it’s usually divided up.
Sed contra, I say: Medieval Catholics frequently denied that there were sacraments in Eden; Protestants have just as frequently affirmed Edenic sacraments. The upshot: For Protestants, sacraments are inherent in human interaction with God; for Catholics (at least medieval ones), sacraments were a postlapsarian accommodation.
Sed contra, I say again: Medieval Catholics frequently said that the sacraments of the old law were mere signs; Protestants have just as frequently said that the sacraments of the Old Testament offered Christ and His benefits to Israel. The upshot: Protestants upgraded, not downgraded, sacramental efficacy.