How are mitosis and meiosis different?

Function
Mitosis is for the growth, development, repair of damaged cells and replacement of damaged cells in multi-cellular organisms.
Meiosis is the production of gametes for sexual reproduction.

Location it takes place in
Mitosis takes place in all somatic cells!
Meiosis takes place in the testes and ovaries. (In humans)

Number of daughter cells produced by a single parent cell
Mitosis produces 2 daughter cells from 1 parent cell.
Meiosis produces 4 daughter cells from 1 parent cell.

Number of chromosomes each daughter cell contains
In mitosis, each daughter cell contains a diploid number of chromosomes. (2n)
In meiosis, each daughter cell contains a haploid number of chromosomes. (n)

Presence of crossing over stage in Prophase
In mitosis, there is no crossing over (homologous recombination) that occurs in Prophase.
In meiosis, there is crossing over (homologous recombination) that occurs in Prophase.

Genetically identical to parent cells?
In mitosis, daughter cells are clones of their parent cell. Hence they are genetically identical to each other.
In meiosis, daughter cells are genetically different to their parent cells as they contain different genetic codes due to crossing over that had led to the recombination of genes between homologues during Prophase I.

Genetically identical to daughter cells?
In mitosis, daughter cells are clones of each other. Hence they are genetically identical to each other.
In meiosis, daughter cells are genetically different to other daughter cells as they contain different genetic codes due to crossing over that had led to the recombination of genes between homologues during Prophase I.

There are many other aspects in which meiosis differs from mitosis but that is all for now! :D