Starboard & Port

Port side

The left side of a pleasure craft looking forward (the bow)

Starboard side

The right side of a pleasure craft when looking forward. 

A trick to remember which side port and starboard each refer to:

The common abbreviation P.S. (for English postscript, derived from Latin post scriptum) can be viewed as port ("left") and starboard ("right").

What color is the port navigation light?

Port navigation light is red.

What color is the starboard navigation light?

Starboard navigation light is green.

Another trick to remember it:

It is quite simple. There are four letters in the words PORT and LEFT so you can easily remember that the left side of a boat is the port side.