Difference between Inheritance and creation of object

An object is the instance of a class, just like how a Ferrari is an instance of a Sports Car.

Inheritance is when one class has the basic characteristics of another class, just like how a Sports Car has the basic characteristics of a Car.

In the case of objects, it's a matter of examples: a Ferrari is an example of a Sports Car. All it's features are those of Sports Car. It's a tangible object based around the idea of a Sports Car.

For inheritance, it's a matter of types: a Sports Car is a type of Car, it has all the characteristics of a car, but it also has other features that make it different from just any other Car.