A lens is a device that causes light to either converge and concentrate or to diverge. It is usually formed from a piece of shaped glass or plastic. Analogous devices used with other types of electromagnetic radiation are also called lenses: for instance, a microwave lens can be made from paraffin wax.
In optics, a prism is a transparent optical element with flat, polished surfaces that refract light. The exact angles between the surfaces depend on the application. The traditional geometrical shape is that of a triangular prism with a triangular base and rectangular sides, and in colloquial use "prism" usually refers to this type. Some types of optical prisms are not in fact in the shape of geometric prisms. Prisms are typically made out of glass, but can be made from any material that is transparent to the wavelengths for which they are designed.
A prism can be used to break light up into its constituent spectral colours (the colours of the rainbow). They can also be used to reflect light, or to split light into components with different polarizations.