Element is the purest substance found in the simple form whereas Compounds are made up of two or more elements.
Hydrogen, Helium, Lithium or anything which you find in the periodic table is considered as an "Element" and every product made u of them like Carbon dioxide, Water, Ethane, Butanoic acid....everything is a kind of Compound (Can be classified into other higher groups but still considers a compound)
Hope this helps!