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

Centripetal force is the inward force that keeps an object moving in a circular path, while centrifugal force is the outward force that appears to push an object away from the center of rotation. In the context of circular motion, centripetal force is necessary to maintain the object's circular path, while centrifugal force is a perceived force that arises due to the object's inertia. They are equal in magnitude but opposite in direction, working together to keep an object in circular motion.