Difference between margin and padding?

Remember these 3 points:

• The Margin is the extra space around the control.
• The Padding is extra space inside the control.
• The Padding of an outer control is the Margin of an inner control.

Demo Image:(where red box is desire control) 

When to use margin vs padding in CSS [closed]

From https://www.w3schools.com/css/css_boxmodel.asp

Explanation of the different parts:

• Content - The content of the box, where text and images appear

• Padding - Clears an area around the content. The padding is transparent

• Border - A border that goes around the padding and content

• Margin - Clears an area outside the border. The margin is transparent

Live example (play around by changing the values): https://www.w3schools.com/css/tryit.asp?filename=trycss_boxmodel