Processes are like two people using two different computers, who use the network to share data when necessary. Threads are like two people using the same computer, who don't have to share data explicitly but must carefully take turns.
Conceptually, threads are just multiple worker bees buzzing around in the same address space. Each thread has its own stack, its own program counter, etc., but all threads in a process share the same memory. Imagine two programs running at the same time, but they both can access the same objects.
Contrast this with processes. Processes each have their own address space, meaning a pointer in one process cannot be used to refer to an object in another (unless you use shared memory).
I guess the key things to understand are: