What is the difference between `let` and `var` in Swift?

The let keyword defines a constant:

let theAnswer = 42

The theAnswer cannot be changed afterwards. This is why anything weak can't be written using let. They need to change during runtime and you must be using var instead.

The var defines an ordinary variable.

What is interesting:

The value of a constant doesn’t need to be known at compile time, but you must assign the value exactly once.

Another strange feature:

You can use almost any character you like for constant and variable names, including Unicode characters:

let 🐶🐮 = "dogcow"

Excerpts From: Apple Inc. “The Swift Programming Language.” iBooks. https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewBook?id=881256329

Community Wiki

Because comments are asking for adding other facts to the answer, converting this to community wiki answer. Feel free edit the answer to make it better.

According to The Swift Programming Language Book

Like C, Swift uses variables to store and refer to values by an identifying name. Swift also makes extensive use of variables whose values cannot be changed. These are known as constants, and are much more powerful than constants in C.

Both var and let are references, therefore let is a const reference. Using fundamental types doesn't really show how let is different than const. The difference comes when using it with class instances (reference types):

class CTest
{
    var str : String = ""
}

let letTest = CTest()
letTest.str = "test" // OK

letTest.str = "another test" // Still OK

//letTest = CTest() // Error

var varTest1 = CTest()
var varTest2 = CTest()
var varTest3 = CTest()

varTest1.str = "var 1"
varTest2.str = "var 2"
varTest3 = varTest1
varTest1.str = "var 3"

varTest3.str // "var 3"

let is used to define constants and var to define variables.

Like C, Swift uses variables to store and refer to values by an identifying name. Swift also makes extensive use of variables whose values can’t be changed. These are known as constants, and are much more powerful than constants in C. Constants are used throughout Swift to make code safer and clearer in intent when you work with values that don’t need to change.

https://docs.swift.org/swift-book/LanguageGuide/TheBasics.html

let - constant
var - variable

[Constant vs variable]
[Struct vs Class]

Official doc docs.swift.org says

The value of a constant can’t be changed once it’s set, whereas a variable can be set to a different value in the future.

This terminology actually describes a reassign mechanism

Mutability

Mutability - changeable - object's state can be changed after creation^[About]

Value and Reference Type^[About]

Reference Type(Class)

Swift's classes are mutable a-priory

var + class
It can be reassigned or changed

let + class = constant of address
It can not be reassigned and can be changed

Value(Struct, Enum)

Swift's struct can change their mutability status:

var + struct = mutable
It can be reassigned or changed

let + struct = *immutable = constant of value
It can not be reassigned or changed

*immutable - check testStructMutability test

Experiments:

class MyClass {
    var varClass: NSMutableString
    var varStruct: String
    
    let letClass: NSMutableString
    let letStruct: String
    
    init(_ c: NSMutableString, _ s: String) {
        varClass = c
        varStruct = s
        
        letClass = c
        letStruct = s
    }
}

struct MyStruct {
    var varClass: NSMutableString
    var varStruct: String
    
    let letClass: NSMutableString
    let letStruct: String
    
    init(_ c: NSMutableString, _ s: String) {
        varClass = c
        varStruct = s
        
        letClass = c
        letStruct = s
    }
    
    
    //mutating function block
    func function() {
//            varClass = "SECONDARY propertyClass" //Cannot assign to property: 'self' is immutable
//            varStruct = "SECONDARY propertyStruct" //Cannot assign to property: 'self' is immutable
    }

    mutating func mutatingFunction() {
        varClass = "SECONDARY propertyClass"
        varStruct = "SECONDARY propertyStruct"
    }
}

Possible use cases

func functionVarLetClassStruct() {
    
    var varMyClass = MyClass("propertyClass", "propertyStruct")
    
    varMyClass.varClass = "SECONDARY propertyClass"
    varMyClass.varStruct = "SECONDARY propertyStruct"
    
//        varMyClass.letClass = "SECONDARY propertyClass" //Cannot assign to property: 'letClass' is a 'let' constant
//        varMyClass.letStruct = "SECONDARY propertyStruct" //Cannot assign to property: 'letStruct' is a 'let' constant
    
    let letMyClass = MyClass("propertyClass", "propertyStruct")
    
    letMyClass.varClass = "SECONDARY propertyClass"
    letMyClass.varStruct = "SECONDARY propertyStruct"
    
//        letMyClass.letClass = "SECONDARY propertyClass" //Cannot assign to property: 'letClass' is a 'let' constant
//        letMyClass.letStruct = "SECONDARY propertyStruct" //Cannot assign to property: 'letStruct' is a 'let' constant
    
    var varMyStruct = MyStruct("propertyClass", "propertyStruct")
    
    varMyStruct.varClass = "SECONDARY propertyClass"
    varMyStruct.varStruct = "SECONDARY propertyStruct"
    
//        varMyStruct.letClass = "SECONDARY propertyClass" //Cannot assign to property: 'letClass' is a 'let' constant
//        varMyStruct.letStruct = "SECONDARY propertyStruct" //Cannot assign to property: 'letStruct' is a 'let' constant
    
    let letMyStruct = MyStruct("propertyClass", "propertyStruct")
    
//        letMyStruct.varClass = "SECONDARY propertyClass" //Cannot assign to property: 'letMyStruct' is a 'let' constant
//        letMyStruct.varStruct = "SECONDARY propertyStruct" //Cannot assign to property: 'letMyStruct' is a 'let' constant
    
//        letMyStruct.letClass = "SECONDARY propertyClass" //Cannot assign to property: 'letClass' is a 'let' constant
//        letMyStruct.letStruct = "SECONDARY propertyStruct" //Cannot assign to property: 'letStruct' is a 'let' constant
    
}

mutating - Mutating Struct's Functions

You can mark a struct's method as mutating

1. Indicates that this function changes internal property values
2. You are only able to call mutating function on var variable
3. Result is visible when mutating function is finished

func testStructMutatingFunc() {
    //given
    var varMyStruct = MyStruct("propertyClass", "propertyStruct")
    
    //when
    varMyStruct.mutatingFunction()
    
    //than
    XCTAssert(varMyStruct.varClass == "SECONDARY propertyClass" && varMyStruct.varStruct == "SECONDARY propertyStruct")
    
    // It is not possible to call a mutating function on a let variable
    let letMyStruct = MyStruct("propertyClass", "propertyStruct")
//        letMyStruct.mutatingFunction() //Cannot use mutating member on immutable value: 'letMyStruct' is a 'let' constant
}

inout inside a function

1. inout allows you to reassign/modify a passed(original) value.
2. You are only able to pass var variable inside inout parameter
3. Result is visible when function is finished

inout has a next flow:

1. passed value is copied into copied value before a function called
2. copied value is assign into passed value after the function finished

//InOut
func functionWithInOutParameter(a: inout MyClass, s: inout MyStruct) {
    
    a = MyClass("SECONDARY propertyClass", "SECONDARY propertyStruct") //<-- assign
    s = MyStruct("SECONDARY propertyClass", "SECONDARY propertyStruct") //<-- assign
}


func testInOutParameter() {

    //given
    var varMyClass = MyClass("PRIMARY propertyClass", "PRIMARY propertyStruct")
    var varMyStruct = MyStruct("PRIMARY propertyClass", "PRIMARY propertyStruct")

    //when
    functionWithInOutParameter(a: &varMyClass, s: &varMyStruct)

    //then
    XCTAssert(varMyClass.varClass == "SECONDARY propertyClass" && varMyClass.varStruct == "SECONDARY propertyStruct")
    XCTAssert(varMyStruct.varClass == "SECONDARY propertyClass" && varMyStruct.varStruct == "SECONDARY propertyStruct")
    
    
    // It is not possible to pass let into inout parameter
    let letMyClass = MyClass("PRIMARY propertyClass", "PRIMARY propertyStruct")
    let letMyStruct = MyStruct("PRIMARY propertyClass", "PRIMARY propertyStruct")
//        functionWithInOutParameter(a: &letMyClass, s: &letMyStruct) //Cannot pass immutable value as inout argument: 'letMyClass', 'letMyStruct' are 'let' constants
}     

*You steal are able to mutate let + struct

func testStructMutability()  {
    //given
    let str: NSMutableString = "propertyClass"
    let letMyStruct = MyStruct(str, "propertyStruct")
    
    //when
    str.append(" SECONDARY")
    
    //then
    XCTAssert(letMyStruct.letClass == "propertyClass SECONDARY")
}

Use let whenever you can. Use var when you must.

[Mutate structure]

It's maybe better to state this difference by the Mutability / Immutability notion that is the correct paradigm of values and instances changeability in Objects space which is larger than the only "constant / variable" usual notions. And furthermore this is closer to Objective C approach.

2 data types: value type and reference type.

In the context of Value Types:

'let' defines a constant value (immutable). 'var' defines a changeable value (mutable).

let aInt = 1   //< aInt is not changeable

var aInt = 1   //< aInt can be changed

In the context of Reference Types:

The label of a data is not the value but the reference to a value.

if aPerson = Person(name:Foo, first:Bar)

aPerson doesn't contain the Data of this person but the reference to the data of this Person.

let aPerson = Person(name:Foo, first:Bar)
               //< data of aPerson are changeable, not the reference

var aPerson = Person(name:Foo, first:Bar)
               //< both reference and data are changeable.

eg:

var aPersonA = Person(name:A, first: a)
var aPersonB = Person(name:B, first: b)

aPersonA = aPersonB

aPersonA now refers to Person(name:B, first: b)

and

let aPersonA = Person(name:A, first: a)
let aPersonB = Person(name:B, first: b)

let aPersonA = aPersonB // won't compile

but

let aPersonA = Person(name:A, first: a)

aPersonA.name = "B" // will compile