The results of a theoretical investigation of the low-velocity stopping power of ions in a magnetized collisional and classical plasma are reported. The stopping power for an ion is calculated through the linear-response (LR) theory. The collisions, which lead to a damping of the excitations in the plasma, are taken into account through a number-conserving relaxation time approximation in the LR function. In order to highlight the effects of collisions and magnetic field, we present a comparison of our analytical and numerical results obtained for nonzero damping or magnetic field with those for vanishing damping or magnetic field. It is shown that the collisions remove the anomalous friction obtained previously [Nersisyan et al., Phys. Rev. E 61, 7022 (2000)] for the collisionless magnetized plasmas at low ion velocities. One of the major objectives of this paper is to compare and to contrast our theoretical results with those obtained through a diffusion coefficient formulation based on the Dufty-Berkovsky relation evaluated for a magnetized one-component plasma modeled with target ions and electrons.