Always use you References..
ISO 9000:2005 defines the answer to your question as.......
3.8.4
verification
confirmation, through the provision of objective evidence (3.8.1), that specified requirements (3.1.2) have been fulfilled
NOTE 1 The term “verified” is used to designate the corresponding status.
NOTE 2 Confirmation can comprise activities such as
— performing alternative calculations,
— comparing a new design specification (3.7.3) with a similar proven design specification,
— undertaking tests (3.8.3) and demonstrations, and
— reviewing documents prior to issue.
3.8.5
validation
confirmation, through the provision of objective evidence (3.8.1), that the requirements (3.1.2) for a specific intended use or application have been fulfilled
NOTE 1 The term “validated” is used to designate the corresponding status.
NOTE 2 The use conditions for validation can be real or simulated.
3.8.1
objective evidence
data supporting the existence or verity of something
NOTE Objective evidence may be obtained through observation, measurement, test (3.8.3), or other means.
Here's how I like to put it.............
Verification checks whether the design meets the original specifications (design input).
Validation checks whether the new product works (does it do what it's supposed to as it is supposed to do it).
Both are important, but different ways of looking at a new product.
The input to for example would be NASCAR regs, but also would include and the owner/engineer/driver input. One of those inputs might have to do with the speed the vehicle needs to be capable of. That speed requirement is translated into an engine design in terms of displacement, horse power, torque, etc.
When the engine is designed and built we 'verify' that it is the displacement specified, supplies the specified torque, produces x amount of horsepower. This is design verification.
We then take it to the track to determine if it can meet the speed requirement, which is the 'end user' requirement. Does it perform? This is design validation. Now, in theory, we should do the validation under use conditions, which would imply running it in a race. In fact, the validation probably is performed in a more 'sterile' condition with just that vehicle on the track.
In retrospect, every flight of every Space Shuttle has been a "Validation" flight to test the new design under actual conditions. No 2 shuttles have ever flown in the same configuration and many systems cannot be validated except under actual conditions.