1. Centripetal force is the cause of change in direction (and hence motion in a circle).
    Centrifugal force is an effect of that change in direction (we called it inertia of direction in class 8th)
  2. Centripetal force is a real force (there is a pull, push, attraction, repulsion by some agent).
    Centrifugal force is fictitious (show me who is doing the pushing etc.?)
  3. Centripetal force acts radially inwards (towards the center of curvature).
    Centrifugal force acts radially outwards (towards the curvature, from the center)
  4. Centripetal force exists in both inertial and non-inertial frames of reference.
    Centrifugal appears only in a rotating frame (a special non-inertial frame) of reference. 
  5. At any given instant, both centripetal and centrifugal forces have the same magnitude given by the formula F = mv2/r = mrw2. 
  6. The magnitude of the two forces remains unchanged in a uniform circular motion.
  7. The two forces do not form an action-reaction pair. Their magnitudes are equal and directions are opposite, but they act on the same body. Also, the centrifugal force disappears as soon as the observer shifts into an inertial frame of reference. 
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