Legend is a traditional story which has popularly come to be regarded as true, but has not been confirmed as such. 

Legends are prose narratives which, like myths, are regarded as true by the narrator and his audience, but they are set in a period considerably less remote, when the world was much as it is today.

A myth is an idea or explanation which is widely held but untrue or unproven. 

Folktale: A story or legend forming part of an oral tradition. 

Folktale, a story passed on by word of mouth rather than by writing, and thus partly modified by successive re‐tellings before being written down or recorded. The category includes legends, fables, jokes, tall stories, and fairy tales or Märchen. Many folktales involve mythical creatures and magical transformations. 

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