Registry keys are containers that will contain values for software, hardware or the Windows OS itself. Keys can be thought of as folders, in which the values are individual files, follow Registry Keys and Values - Part 1 to know about Keys.
You can navigate the keys using a folder-type hierarchy. Values are the nuts and bolts of the Registry. These are the settings, integers, and strings that provide the data and information that helps Windows load and effectively work with your hardware and apps.