There’s no exact definition for either term, and both terms refer to collective ownership over the means of production. Socialism tends to imply a less hardline stance, though, with more reformist views (democratic socialism) or the belief that the capitalist economy can exist, just with heavy regulation (social democracy). Communism implies more anticapitalism and the belief that the state either needs to be overthrown or made obsolete.
There’s no exact definition for either term, and both terms refer to collective ownership over the means of production. Socialism tends to imply a less hardline stance, though, with more reformist views (democratic socialism) or the belief that the capitalist economy can exist, just with heavy regulation (social democracy). Communism implies more anticapitalism and the belief that the state either needs to be overthrown or made obsolete.