What are Trackbacks and Pingbacks ?

I am dam sure that most of the new Bloggers doesn’t know what are Trackbacks and Pingbacks. They see these words often in blogging but never think of it. These are very important to know as a fresh Blogger. Even these will help in promoting your blogs. So let me take this opportunity to explain you a little bit on those. I don’t want to explain in my own words, so just presenting the modified content from WordPress itself.

Trackbacks: In a nutshell, TrackBack was designed to provide a method of notification between websites: it is a method of person A saying to person B, “This is something you may be interested in.” To do that, person A sends a TrackBack ping to person B.
A better explanation is this:
Source:TechZoomIn