Reflection: This is the bouncing back of light when it hits a surface. It's like seeing your image in a mirror; the mirror reflects the light off your face back to your eyes.
Refraction: This is the bending of light as it passes from one medium to another with different densities. Imagine looking at a straw in a glass of water; it appears bent due to refraction.
Polarization: This refers to the orientation of the oscillations in a wave of light. It's like choosing which way you want your window blinds to face - up and down or side-to-side.