Sort function: It will modify the list it is called on. It modifies the list in-place and has no return value. Only works with list.
Sorted function: Using this function to the list, will create a new list containing a sorted version of the list it is given. This function will not modify the list passed as a parameter. Sorted function sorts any iterable (lists, tuples, string or any such sequence can be iterated over in a for-loop) and returns a new object.
Here is the link regarding sorting: https://docs.python.org/3/howto/sorting.html#sorting-basics