Is there a simple way to tell axial inductors and resistors apart in through-hole type PCBs? I do find the color code on both very confusing. Is there an obvious difference that I am missing? As a beginner, I might just be overlooking something very simple.
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Axial inductors tend to be sea foam green, although some are pea green or even cyan. The cyan ones you can tell from 1% resistors because they have one fewer band.
The easiest, and most reliable, way is to look at the designator (and on a through-hole board, there is almost always a printed designator). If it says "L3", for example, it's most likely an inductor. If it says something like "R37", on the other hand, it's probably a resistor!
Beyond that, resistors sometimes have a specific body color, as Ignacio says, but not always. Dipped axial-lead inductors tend to have a specific kind of 'lumpy' look because of the wire, whereas resistors are fairly regular in their midsection.
I suggest you go to a parametric search engine such as Digikey's, and search for a common value of axial-lead inductor (10\$\mu\$H will do) and look at the photos (you can mouseover the pictures to get a better view (more-or-less ignore the ones that are obvious 3D renderings of ideal 3D models). You can see that some are dipped as the photo above, some are molded like the old carbon-composition resistors, and some have a bit of shrink wrap around them. Here is a search that I did, not sure how long it will work, but with "in-stock" and "bulk + cut tape" restrictions, there are only two pages of parts, so you can look at all the variations in a couple of minutes, and quickly gain the kind of experience that would have taken many years not so long ago (and might still not have been exhaustive).