Diwali symbolizes the victory of good over evil, light over darkness, and knowledge over ignorance. It commemorates Lord Rama's return to Ayodhya after defeating Ravana, and Goddess Lakshmi's emergence from the ocean. While Durga Puja also celebrates good over evil (Goddess Durga slaying Mahishasura), Diwali is more universally recognized as the primary festival representing this theme in Hindu tradition.