Processes
A process has a self-contained execution environment. A process generally has a complete, private set of basic run-time resources; in particular, each process has its own memory space. Processes are often seen as synonymous with programs or applications.
To facilitate communication between processes, most operating systems support Inter Process Communication (IPC) resources, such as pipes and sockets. IPC is used not just for communication between processes on the same system, but processes on different systems.
Threads
Threads are sometimes called lightweight processes. Both processes and threads provide an execution environment, but creating a new thread requires fewer resources than creating a new process.
Threads exist within a process — every process has at least one. Threads share the process's resources, including memory and open files. This makes for efficient, but potentially problematic, communication.