Inheritance creates a new class that inherits the features of an existing class, whereas polymorphism allows a class to be defined in various ways. Polymorphism is used to apply to functions or methods, whereas inheritance is used to apply to classes. In object-oriented programming, inheritance promotes reusability and minimizes code length. Polymorphism lets the object choose the form of the function to implement both at compile (overloading) and run time (overriding). Single, hybrid, multiple, hierarchical, and multilevel inheritance are all possible. There are two types of polymorphism which are the compiled-time polymorphism (overload) and run-time polymorphism (overriding).