Events and Hooks
The system Craft uses to allow plugins and modules to modify or extend core functionality by “hooking into” specific points in the application lifecycle.
Events are used to run your own code at specific points in the Craft CMS application lifecycle, so you can modify data or behavior. This is a very common way to extend and customize parts of Craft’s native functionality and takes place in a Craft plugin or module.
Hooks, on the other hand, are used via templates to alter the output of a template.