Fake news is deliberately false information that mimics mainstream news and has been published to incite strong emotions, sow discord, or influence decision making.
Misinformation may be entirely false, or it may contain some true facts with a false social/historical context or incorrect conclusions from a set of data. It is spread without the explicit intent to deceive others.
Fake news and misinformation can spread rapidly via social media, word of mouth, or other means when people are not careful to check the original source. In both your personal and academic life, it is important to carefully evaluate news to ensure you have the best information possible and to avoid spreading false information to others.
More detail/examples: Fake news websites in the United States
Satire refers to content - often "news" articles - that contains deliberately false information for the purposes of humor and social/political commentary. It may reference false events and include ridiculous statistics, made-up quotes, or staged/edited photographs. Unlike fake news, it is not intended to actually deceive others.
If you come across a piece of news that seems too absurd to be true, it might be because it isn't.
The Onion, September 9, 2021