By solving the equation of motion for a physical system, you can get the solution $x(t)$ that describes the behavior of that system. Both Newtonian and Lagrangian methods give you a means to get the equation of motion. In the former, you have F=ma at disposal whereas, for the latter, you have the Euler-Lagrange equation. However, for rendering the E-L equation to be giving the equation of motion, the Lagrangian, L is needed, which you construct by the formula L=T-V. Therefore, speaking of the Lagrangian method entirely, basically, the Lagrangian comes before the equation of motion as you can't know the equation of motion in the first place. On the other hand, if you have known the equation of motion for a physical system, it is always an intriguing endeavor to find out the appropriate Lagrangian that leads to the known equation of motion. In the end, we are interested in the equation of motion for that system as well as the solutions.
Historically, Newtonian formalism came before Lagrangian formalism. It was only when the investigation of geometrical optics via Fermat principle and mechanics via Maupertuis's principle that the variational principle approach started and ultimately lead to Lagrange formalism and then the Hamiltonian approach. For gaining a little insight into these two different formalisms (Newtonian and Lagrangian), it is good to compare how they lead to the equation of motion. In Langrangian formalism, the notion of force is absent, and only generalized coordinates and generalized velocities are used. This gives an edge to it over the Newtonian counterpart as it can be generalized to a broader class of systems, not just the mechanical ones. For instance, the Lagrangian approach can lead to the 'equation of motion' for classical electrodynamics, namely Maxwell's equations if the scalar potential and vector potential are chosen as generalized coordinates. All these cannot be done by using the Newtonian approach except that the Lorentz force law. Note that the Lorentz force law can also be derived by the Lagrangian approach, though this time the position of particles is chosen as generalized coordinates.
Therefore, conceptually speaking, the Lagrangian approach is more fundamental than Newtonian formalism as it can lead to the equation of motion in many branches of physics. It is clear now that the equation of motion the Lagrangian formalism derived not just applies to particles, but fields as well. Mathematically speaking, these 2 approaches are equivalent in the sense that they could lead to each other mathematically, although the conceptual leap from Newtonian to Lagrangian is larger than the other way around.
If you have the equation of motion for a given system, you could still seek its Lagrangian to spot out the symmetry and its implication(s). One simple example is classical electrodynamics again. By using the Lagrangian formulation of electrodynamics, the fact that the requirement of gauge invariance implies charge conservation can be derived. The Lagrangian is not unique since there could be more than one Lagrangian that lead to the same EOM. Consider the Lagrangian functions $L(q,\dot q,t)$and $L'(q,\dot q,t)$ related by
$$L'(q,\dot q,t)=L(q,\dot q,t)+\frac{d}{dt}f(q,t).$$
Such Lagrangians are called equivalent in the sense described below. The actions $S$ and $S'$
$$S[q]=\int^{t_2}_{t_1} L(q,\dot q,t)dt,\qquad S'[q]=\int^{t_2}_{t_1} L(q,\dot q,t)dt.$$
only differs by a constant term,
$$S'[q]-S[q]=f(q_2,t_2)-f(q_1,t_1),$$
where $q_2=q(t_2)$ and $q_1=q(t_1)$. So we have
$$\delta S[q]=\delta S'[q].$$ For questions concerning the existence of some Lagrangian dynamics involving more than one, but not equivalent, Lagrangians, I am not sure about that.