Stored Procedures:
i) Sequence of sql statements stored in db for future access
ii) SP is parsed and compiled and stored in compiled format
iii) SP may or maynot return a value
iv) Stored PRocedure can return multiple values
v) Stored procedures can not be used in sql query.
vi) Stored Procedure is to perform a task

Functions:
i) Sequence of sql statements stored in db for future access
ii) Functions are compiled and executed runtime
iii) functions must return a value
iv) functions can return only one value at a time.
v) Functions can be used in sql query.
vi) Functions for compute the value.