What is the difference between prograde rotation and retrograde rotation?

Rotating in the conventional way and in the non conventional way respectively.

In case of planets of the solar system,Prograde rotation means the direction of rotation is same as that of (the central hub of our system) which is in the counter-clockwise direction when viewed from the north pole.Retrograde rotation means the direction of rotation is opposite to that of the sun.So clockwise rotation. In case of satellites, the reference object is their mother planet instead of the sun.Examples-

1. All planets in the solar system except Venus and Uranus have prograde rotation.
2. All major satellites except Triton(of Uranus) have prograde rotation.For more details visit this page.