This was a question raised by one of the software engineers in my organisation. I\'m interested in the broadest definition.
A socket is a structure in your software. It's more-or-less a file; it has operations like read and write. It isn't a physical thing; it's a way for your software to refer to physical things.
A port is a device-like thing. Each host has one or more networks (those are physical); a host has an address on each network. Each address can have thousands of ports.
One socket only may be using a port at an address. The socket allocates the port approximately like allocating a device for file system I/O. Once the port is allocated, no other socket can connect to that port. The port will be freed when the socket is closed.
Take a look at TCP/IP Terminology.