Myth- a traditional story especially one concerning the early history of a people or explaining some natural or social phenomenon, and typically involving supernatural beings or events.

e.g. of Myth- Japanese and Chinese people believe that there are mythological creatures like dragons.

Legend-  traditional story sometimes popularly regarded as historical but unauthenticated.

e.g. of Legend- ‘How Kangaroo Got His Tail’ is one example of a legend.

Folktale- a story originating in popular culture, typically passed on by word of mouth.

e.g. of Folktale- Palm Reader is one example of a folktale.

*Sorces: from the dictionary on the dashboard