How is wave refraction different from wave reflection?

Imagine a wave that is coming from medium 1 and meets the interface with medium 2 (for example air-water).
In reflection the wave goes back to the first medium (air) while in refraction continues penetrating into the second (water).
The two phenomena aren`t necessarily exclusive, i.e., you can have reflection AND refraction as at the interface air-water (an example of this is the formation of the rainbow, a combination of reflection and refraction in a drop of water).

In refraction the original direction of propagation of the wave changes more or less according to the difference between the optical characteristics of the two media (refractive index and Snell`s Law).

In reflection the direction of propagation of the reflected wave will form the same angle with the perpendicular to the plane of the interface (angle in=angle of reflection).