Answer:
CMEs are giant clouds of particles from the Sun hurled out into space, while flares are flashes of light—occurring in various wavelengths—on the Sun.
All three occur in the corona. The biggest difference is the cause. The solar wind is a constant flow of particles from the sun’s corona due to their high energy gained from the sun’s interior, it’s like being boiled off. CME’s and flares are the result of “explosive” releases of energy from the sun’s magnetic field.
One can think of the explosions using the physics of a cannon. The flare is like the muzzle flash, which can be seen anywhere in the vicinity. The CME is like the cannonball, propelled forward in a single, preferential direction, this mass ejected from the barrel only affecting a targeted area.