The ApplicationContext and BeanFactory interfaces are used for managing beans in the Spring framework. Both provide similar functionality, but there are some important differences between the two. The ApplicationContext interface is designed to be used in a more enterprise-level application, while the BeanFactory interface is more basic and can be used in a wider range of applications. The ApplicationContext interface provides additional features such as the ability to resolve messages, access a configured environment and resources, and publish events. It also supports internationalization and supports annotation-based configuration. Application Context is built over BeanFactory interface. The BeanFactory interface is more lightweight and does not have as many features as the ApplicationContext interface. However, it is still a powerful tool for managing beans in Spring-based applications.