Thanks for the replies! The articles were really good :)
However,I would need some more inputs/blogs on this.To explain some more details,
I am using form components(OOTB components provided by AEM,simple form components not the Adaptive forms) and dragging and dropping them one after the other onto the main content area of my page.I want to establish some kind of a relationship between these dropped components so that once I change something in the dropdown in the form,the textfield dropped below the dropdown should auto-populate with some values.This textfield won't be editable by end-users.We have such multiple validations,so I was hoping to get some place where these dropped components can communicate with each other.