It is the religious foundation of a culture. Folklore answers the questions about why we behave the way we do and why we use the tools that we do. Yet often myth and folklore cross-over, some myths only fully understood with a knowledge of the culture that made it, folklore only understood by an awareness of that culture's gods. Always, it goes back to some aspects of longevity and human experience. Often, if you remove the god-names and place names of a myth, a person listening may still recognize in it its allegorical overtones.
Myths are, for the most part, allegories and personifications of nature.
Folklore is the fingerprint of the individual. It shares the ancient art of storytelling with the ancient motive of transmitting culture. It is merely folklore with a more technological setting, often about people afraid of the changes in their world. For those pursuing spiritual truth through archetypal identification, both are necessary.