The difference between symmetric and asymmetric encryption lies in the key management process. Symmetric encryption uses the same key for both encryption and decryption, making it fast and efficient but less secure in key distribution. In contrast, asymmetric encryption employs a pair of keys—a public key for encryption and a private key for decryption—enhancing security by eliminating the need for key sharing. This two-key system is essential for secure communications over open networks, such as the internet.