Electricity is a force that is felt when there are electric charges i.e., positive and negative charges. Whenever electric charges are moving or when they are static, they create electric fields, and that's why both go together. Electricity can also be felt when electric charges are passing through conductors i.e., materials that allow an electric current to pass through them. Magnetism, on the other hand, is a force that is felt only when electric charges are moving. And that is why magnetism is usually regarded as the bye product of electricity. As electric charges are moving, magnetic poles, north, and south poles are being created.
Another difference between electricity and magnetism is that magnetic charges cannot take place in monopoles, whereas electric charges can do this; in fact, they exist in the form of particles that contain both negative and positive charges. In terms of application, electricity is now needed for all kinds of operations, whereas the same thing cannot be said of magnets.