Difference between managed and unmanaged package in Salesforce

Unmanaged Package	Managed Package
Unmanaged packages are typically used to distribute open-source projects or application templates to provide developers with the basic building blocks for an application.	Managed packages are typically used by salesforce.com partners to distribute and sell applications to customers.
Once the components are installed from an unmanaged package, the components can be edited in the organization they are installed in.	Once the components are installed from a managed package, the components cannot be edited in the organization they are installed in.