NASA:

The first rockets ever built, the fire-arrows of the Chinese, were not very reliable. Many just exploded on launching. Others flew on erratic courses and landed in the wrong place. Being a rocketeer in the days of the fire-arrows must have been an exciting, but also a highly dangerous activity.

Today, rockets are much more reliable. They fly on precise courses and are capable of going fast enough to escape the gravitational pull of Earth. Modern rockets are also more efficient today because we have an understanding of the scientific principles behind rocketry. Our understanding has led us to develop a wide variety of advanced rocket hardware and devise new propellants that can be used for longer trips and more powerful takeoffs.

Rocket Engines and Their Propellants

Most rockets today operate with either solid or liquid propellants. The word propellant does not mean simply fuel, as you might think; it means both fuel and oxidizer. The fuel is the chemical rockets burn but, for burning to take place, an oxidizer (oxygen) must be present. Jet engines draw oxygen into their engines from the surrounding air. Rockets do not have the luxury that jet planes have; they must carry oxygen with them into space, where there is no air.
Solid rocket propellants, which are dry to the touch, contain both the fuel and oxidizer combined together in the chemical itself. Usually the fuel is a mixture of hydrogen compounds and carbon and the oxidizer is made up of oxygen compounds. Liquid propellants, which are often gases that have been chilled until they turn into liquids, are kept in separate containers, one for the fuel and the other for the oxidizer. Then, when the engine fires, the fuel and oxidizer are mixed together in the engine.