What is the difference between Honing and Sharpening a knife?

What is the difference between Honing and Sharpening a knife?

Honing: A honing steel basically pushes the edge of the knife back to the centre and straightens it.

Honing should be done often — some even hone before each use. 

Sharpening: On the other hand, is a process where bits of the blade are ground and shaved off to produce a new, sharp edge!