Here’s an example of how people use the two words: “I enjoy reading Entrepreneur and Inc, but prefer the latter over the former.”
“Former” refers to the first of TWO persons or things.
Example: “This item is available in wood and in metal, but I prefer the former.”(Wood: the first of two things)
“Latter” refers to the second of TWO persons or things.
Example: “Red and blue are popular colors, but the latter is more popular.” (Blue: the second of two persons)
Here’s a trick to remember the differences: the word “former” means “first” and both begin with the letter “f.” Once you know that former is first, the latter part is easy.
“Latter” and “last” both begin with an “l.”
This only works when there are two persons or things under discussion. But that’s another story for another time!