* Gerund: A verb form ending in "-ing" that acts as a noun. Example: "Making cookies is my favorite hobby."
* Present Participle: A verb form ending in "-ing" that acts as an adjective or part of a verb phrase. Example: "The making of a cake is a complex process." (adjective) or "She is making dinner." (part of verb phrase)
So, to determine the part of speech of "making" you need to look at how it's used in the specific sentence.