Penance is any act or a set of actions done out of repentance for sins committed, as well as an alternate name for the Catholic, Lutheran, Eastern Orthodox, and Oriental Orthodox sacrament of Reconciliation or Confession. It also plays a part in confession among Anglicans and Methodists, in which it is a rite, as well as among other Protestants.
La Penitente by Pietro Rotari
A 17th-century depiction of one of the 28 articles of the Augsburg Confession by Wenceslas Hollar, which divides repentance into two parts: "One is contrition, that is, terrors smiting the conscience through the knowledge of sin; the other is faith, which is born of the Gospel, or of absolution, and believes that for Christ's sake, sins are forgiven, comforts the conscience, and delivers it from terrors."
The reproach of Nathan and the penance of King David (Paris Psalter, folio 136v, 10th century).
Russian Orthodox priest hearing confessions before Divine Liturgy
A sacrament is a Christian rite that is recognized as being particularly important and significant. There are various views on the existence, number and meaning of such rites. Many Christians consider the sacraments to be a visible symbol of the reality of God, as well as a channel for God's grace. Many denominations, including the Roman Catholic, Lutheran, Presbyterian, Anglican, Methodist, and Reformed, hold to the definition of sacrament formulated by Augustine of Hippo: an outward sign of an inward grace, that has been instituted by Jesus Christ. Sacraments signify God's grace in a way that is outwardly observable to the participant.
The Seven Sacraments, an altarpiece by Rogier van der Weyden, c. 1448
The Council of Trent defined the seven sacraments.
The seven sacraments of the Catholic church: Baptism, Confirmation, Matrimony, Eucharist, Penance, Holy Orders and the Anointing of the Sick
Baptism and Chrismation, the sacraments of initiation, in an Eastern Orthodox church