How do kinetic energy and potential energy differ?

In physics, kinetic and potential energy represent two fundamental ways that energy is manifested within a system.

Kinetic energy is the energy an object or particle possesses due to its motion. It is a property of a moving object that depends on both its mass and its velocity. For example, the translational kinetic energy of a body is calculated as $\frac{1}{2}m{v}^2$.12

Potential energy is stored energy that depends on the relative position or configuration of parts within a system. Unlike kinetic energy, which is a property of an individual moving body, potential energy is a property of a system, such as a ball raised above the Earth or a compressed spring.34

These forms are interconvertible. For instance, as an object falls, its potential energy is converted into kinetic energy. According to the principle of the conservation of energy, energy cannot be created or destroyed, only transformed between these states, often with some energy dissipating as thermal energy due to friction.54