Give similarities of the lytic and lysogenic cycle of bacteriophage?

During during both lysogenic and lytic cycles of viral infection, genetic viral information is incorporated into the host cell (and vise-versa) for the purpose of hijacking the cell for the creation. The main difference is that lytic cycle doesn't result in the imminent destruction of the cell by the newly created viruses.

BTW: Correct me if I'm wrong.

The lytic cycle is the path of a virulent virus, in that it enters the cell, uses the cell's machinery to reproduce itself, repackages inside the cell, the bursts out, killing the cell and moving on to nearby cells.

The lysogenic cycle is the path of a temperate virus, in that it enters the cell and integrates its genetic material into that of the host. So it gets replicated with the host DNA and "lives" with the host. It can stay in this cycle indefinitely and then enter the lytic cycle by getting cut out of the host DNA and going through the motions stated above.