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In common usage, people often use the word theory to signify a conjecture, an opinion, or a speculation. In this usage, a theory is not necessarily based on facts, in other words, it is not required to be consistent with true descriptions of reality. True descriptions of reality are more reflectively understood as statements that would be true independently of what people think about them.
In science, a theory is a proposed description, explanation, or model of the manner of interaction of a set of natural phenomena, capable of predicting future occurrences or observations of the same kind, and capable of being tested through experiment or otherwise falsified through empirical observation. It follows from this that for scientists "theory" and "fact" do not necessarily stand in opposition. For example, it is a fact that an apple dropped on earth has been observed to fall towards the center of the planet, and the theory which explains why the apple behaves so is the current theory of gravitation.
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