What is the difference between caricature and satire?

A Caricature is a portrait using exaggeration of some characteristics and oversimplification of others. Caricatures can either be insulting or complementary and they can be drawn for entertainment or political purposes. Satire is described as a literary genre or form in which human or individual vice is attacked through irony, derision or wit. In simple terms Satire is used to criticize something the author strongly disapproves by using wit and humour.