Prim's and Kruskal's algorithms are two common approaches for finding a minimum spanning tree (MST) in a weighted, undirected graph. Prim's algorithm grows the MST from a single starting vertex by iteratively adding the lowest-cost edge that connects the MST to another vertex. Kruskal's algorithm considers all edges in order of weight and adds edges to the MST if they do not form cycles. Both run in O(E log E) time, where E is the number of edges, and are greedy algorithms that work to find the optimal MST solution.