What is the difference between kinetic and potential energy?

In physics, kinetic energy is the energy of motion, while potential energy is the stored energy an object has due to its position or state. The formula for kinetic energy is given by $KE = \frac{1}{2}mv^2$, where m is the mass of the object and v is its velocity. On the other hand, the formula for gravitational potential energy is $PE = mgh$, where m is the mass, g is the acceleration due to gravity, and h is the height. Understanding the distinction between these two forms of energy is crucial in grasping various principles in physics.