A lake is larger and is not as muddy, as a pond. In lakes, you will find living species like fish and frogs. Lilly pads are where lakes are, and is the place for them to grow. Ponds are muddier then lakes, as I said and are smaller. You usually won't find living species in ponds, but ducks and geese do sometimes live near ponds. If there is a drought, a pond will dry up quicker and easier then a lake.