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Mitosis is for growth and repair. One cell becomes two daughter cells with each containing 46 chromosomes and retains the exact feature of that cell.

Meiosis is for reproductive cells. One cell becomes four daughter cells with each containing 23 chromosomes and all the sex cells undergo genetic recombination (Pachytene) to ensure genetic variation.

Why 23 chromosomes only? Because once fertilization (by insemination or sexual intercourse) happens, the sperm cell and the egg cell's 23 chromosomes will merge to become 46.