What is the difference between centripetal and centrifugal forces and how do they affect the motion of an object?

Centripetal force is the inward force that keeps an object moving in a circular path, while centrifugal force is the outward force that acts in the opposite direction. Centripetal force is necessary to maintain circular motion, while centrifugal force tends to pull objects away from the center of rotation. Both forces play a role in determining the speed and direction of an object's motion in a circular path.