What is the difference between centrifugal force and centripetal force, and how do they relate to each other in the context of physics?

Centrifugal force is the outward force experienced by an object moving in a circular path, while centripetal force is the inward force that keeps the object moving in that path. In physics, these forces are equal in magnitude but act in opposite directions, with centripetal force being responsible for maintaining the object's circular motion and centrifugal force being a result of inertia.