What's the difference between satire & parody?

A deceptively complex question. Here is one confidently expressed answer:

Satirical magazine
Alternative explanations put more emphasis on the intent of the parodist/satirist
Satire can be termed as humour and anger combined together. Parody is really meant for mocking and it may or may not incite the society. Parody is just pure entertainment and nothing else. It does not have a direct influence on the society.
While Satire makes a serious point through humour, Parody does not contain any thing serious. Parody is just fun for fun’s sake. Satire can induce the society to think where as parody does not. While satire stands for changing the society, parody only stands for fun and making fun.
In everyday usage satire and parody are used interchangeably but perhaps parody is more a form of caricature: an exaggeration of immediately recognisable traits or features. Parody puts more emphasis on accurate imitation of detail than satire, which is more broadly ideological.
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