This report discusses the positive and negative impact of social media on the internet, challenges and measures of security and privacy while using social media, and a comparison between social networking sites. It explores the benefits of social media in terms of speedy communication, building relationships, sharing information, and promoting business. It also highlights the negative effects such as addiction, sleep disturbances, depression, and cyberbullying. The report further discusses the challenges and measures of security and privacy risks associated with social media, including ransomware and virus attacks, hacked accounts, fake apps and malicious links, leaving clues for stalkers, and fake offers and schemes. Lastly, it compares the features and applications of Facebook and Instagram for businesses.