What is the difference between 301 and 302 redirects in SEO?

HTTP Response Status Codes are designated numbers that indicate the web server’s response to the requested URL. These codes inform the browser, and search engines crawlers, on how to handle the request. Among the most well-known of these codes is the 404, aka “page not found.” But in reference to Search Engine Optimization, the 301 and 302 codes are just as important.