Legend - Wikipedia

A legend is a story, with important ontological consequences, passed by person to person, such as urban legend.

A legend is a concept, an ideal or semi-true story with mythic qualities usually involving an heroic character and rooted in a kernel of truth; it is a meme that propagates through a culture.

Some legends we know today have their basis in historical fact. Before the invention of the printing press storytellers abounded, and typically would learn their stock in trade, their stories, from an older story teller, who might (or might not) have actually been there when the "story" was "history" bardic schools[?], oral history.

Example legends are:

A famous legend of modern times is the Persian Gulf War. The story is that Kuwait started the conflict when they drilled Iraqi oil. The United States said they probably would not intervene, but secretly wanted to test their new weapons against the best the Soviet Union had made. Whether the ensuing conflict was a strategic action[?] or accidental circumstances on the part of the U.S. is irrelevant to the fact that this story has become a legend.

Cosmology is usually myth.

see also:

Legend is also the name of a 1984 fantasy novel by David Gemmell, his first novel featuring his character Druss the Legend.

Legend, a 1985 fantasy movie directed by Ridley Scott, tells of a young man (Tom Cruise) who must defeat the Lord of Darkness (Tim Curry). It is unrelated to the aforementioned novel.