The two types of reproduction found in living organisms are asexual reproduction and sexual reproduction. Asexual reproduction involves a single organism producing offspring that are genetically identical to itself, commonly seen in organisms like bacteria and some plants. This method allows for rapid population growth and is advantageous in stable environments. In contrast, sexual reproduction involves the combination of genetic material from two parent organisms, leading to greater genetic diversity among offspring. This diversity is crucial for adaptation and survival in changing environments and is observed in the majority of animals and plants.