In the literal meaning, the only thing resembling a rule that I can think of offhand is that "live" is usually used of animals rather than people: "this crate contains live fish". Otherwise, the choice, where it matters, seems to be based as much as anything on idiomatic considerations that seem hard to explain without spending an awful long time studying and analysing numerous examples. It seems to me that "live" is rather less common and rather more restricted in its range of possible uses.
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