Myths are considered truthful accounts of nature, gods or, demons of long ago. They tell about the origin of the world and humans. The characters can be human or animal, and they usually take place in an earlier or another world.
Legends have been handed down for generations, and they can be delivered in the epic form. Legends are usually about humans and not supernatural beings. The heroes are generally good, and they are overcoming some evil within the world.
(Through the Eyes of a Child: An Introduction to Children's Literature by Donna E. Norton)