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Port no is reserved for various protocols.Like just  for example say if ur making an application in php using XAMPP  then it is assigned a port no 80. It turns our PC into a localhost.  Tis is just for example. By default some protocols r assigned Port no's. (There r many protocols such as FTP, HTTP d list is endless).

In a network to identify a node IP address is just like d identity card. IPs are not permanent in nature. However MAC address is. Ips may change in case d user leaves a particular ISP(Internet Service Provider).

I hope u r satisfied with d descp. :)
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