Generally said -ing adjectives have an active meaning, describing someone that is doing something (acting) or something that is causing something to us (making us feel in a certain way or giving us some kind of impression etc).
While adjectives ending with -ed have a passive meaning, describing someone 'receiving' some kind of action, made to feel in a certain way or given an impression.
To make it clearer, let's take a look at the following examples:
a talking clock
a singing bird
a winning team
a laughing child
They all 'do' something – the clock is talking, the bird is singing, the team is winning, the child is crying. The adjectives with 'ing, here, have an active meaning. So, 'talking', 'singing', winning' and laughing' are used to describe an action.
Now look at these examples with adjectives ending in -ed/ past participle:
a smashed window.
a painted box.
a lost child
a surprised look
These adjectives are used with a passive meaning. Something has been done to them (the window, the box) or something/someone has caused them to be in a certain state (the child, the look) or feel in a certain way. That is, the person or thing we are describing here is a 'passive participant' in the action. They are not doing anything, but they are “done” something. So the adjectives smashed, painted , lost , surprised describe states or feelings as a result of something done – the window has been smashed, the box has been painted, child has been lost, the person was surprised so he gave/had a surprised a look.
Here are some more examples:
She is annoyed.
I am interested in photography.
Everyone was excited during the game.
We all feel relaxed after the holiday we had.
The -ed ending implies a certain feeling. She is feeling annoyed, I feel interested in photography etc
Whereas the adjectives with -ing used here ...
The noise is annoying.
I find photography an interesting subject.
It was an exciting tennis match.
We're having a relaxing holiday.
... are used to describe the thing or the person that produces those feelings (the noise is making me feel annoyed, so it is annoying, photography provokes an interest in me, so it is interesting etc)
You can practice those with friends:
If you find an interest in art, art is interesting to you or you are interested in art.
If the news you heard has shocked you, then you were ... by the news you heard, or the news was ... .
If the story you have been told has amused you , the story must have been very .... .
If someone didn't show up for an appointment you had, and that was a surprise to you, then it was ... that they did not show up.
If you do not like football and you feel that it bores you, then you can say that you find football very ... . (which is not at all my case, as a matter of fact :-P)
Well, that was all for now. Hope it was helpful.