What is the difference between faulting and folding?

Faulting:

Faulting happens when the Earth’s crust completely breaks and slides past each other. Rocks along a fault tend to move in opposite directions. As the overlying rock strata press them, the friction locks them together. 

Folding:

Folding is a type of earth movement resulting from the horizontal compression of rock layers by internal forces of the earth along plate boundaries. A upfold are termed as anticlines. The downfolds are termed synclines.

Further Reading:

• Difference Between Folding and Faulting
• Geomorphic Processes