There are 8 bits in a byte. kilo means one thousand.
1 kilobit = 0.125 kilobyte
1 kilobyte = 8 kilobit
Both of them are standards for calculating the size of data. The smallest amount of data is a single bit.
A byte is 8 bits.
Kilo = 1024
So 1 KiloByte(KB) = 8 Kilobits(Kb) = 1024 bytes = 8192 bits
Notice the difference in capitalization between KB and Kb.