css - Difference between margin and padding?

Question

What exactly is the difference between margin and padding in CSS? It really doesn't seem to serve much purpose. Could you give me an example of where the differences lie (and why it is important to know the difference)?

Answer 1

padding is the space between the content and the border, whereas margin is the space outside the border. Here's an image I found from a quick Google search, that illustrates this idea.