The hare thinks that he is the fastest animal who will ever win the race. The tortoise was tired of the hare bickering so he challenged the hare to a race.
The hare agreed to the race because he knew that he was going to win. When the race started, the hare quickly got a good start.
When the hare got farther enough ahead that he could stop for a while, he took a nap.
As the hare was sleeping, the tortoise slowly passed by without having the hare see him.
The tortoise was further enough ahead that the hare couldn't catch up. When the hare woke up, he quickly rushed to try to beat the tortoise. The tortoise was so close to the finish line that he won.
The tortoise winning represents "slow and steady wins the race" because he took his time, rather than the hare who represented "fast and furious" because he just ran so fast but then took a nap. This symbolizes how in life, if you always rush to get things done, it may not always be right. The most important thing to do in life is to take your time when you are getting things done.