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Margin vs Padding vs Border

Unfortunately this been one of my very confusing topics always. I look up the definition of these 3 parameters every often on internet.

Margin - It's the space between two elements. It's outside the element's border. Padding - It's the inside an HTML element. It's from content to border. Think of it as the extra "padding" provided to content to increase its space in the page. Border - It's the fence of the element. It's the area around content + padding

Diagram

Margins Auto Collapse

Both margin and padding helps to add space between elements. But margins between two vertical elements auto collapse.

This means, if two vertical elements having a margin of 1em, then the overall margin between these two elements will be 1em only.

Auto Margin

This will automatically place the content in the center of the container or the width of the container.