All energy can be either in two forms, i.e. kinetic energy or potential energy. Energy can be transferred from potential energy to kinetic energy and kinetic energy to potential energy.
Definition of Potential energy

The stored energy is generally called as potential energy.

Energy that is stored that is waiting to be used later is called potential energy.
 The potential energy PE of an object is equal to the mass m , g gravitational acceleration of the earth and h height above earth's surface.
Definition of Kinetic energy

The energy possessed by a body because of its motion, equal to one half the mass of the body times the square of its speed.
The amount of kinetic energy KE of an object in translational motion is equal to onehalf the product of its mass m and the square of its velocity v.
Types of kinetic energy
Three types of kinetic energy are available. They are

Rotational Kinetic Energy

Translational Kinetic Energy
 Vibrational Kinetic Energy
Rotational Kinetic Energy
Rotational kinetic energy occurs when matter spins around an axis. The second hand on a watch exhibits rotational energy. The Earth has rotational energy as it spins around its axis.
Translational Kinetic Energy
Translational Kinetic Energy is when something is moving in a straight line, like driving your car down the road. It is also when molecules of air are flying around us all the time (even though we can't see or feel them).