Parasitic drag is that drag caused by the aircraft and wing moving through the air. It does not produce any lift.
Induced drag is that drag caused as a byproduct of producing lift. It can be calculated from the L/D ratio of the wing cross section for a given angle of attack (given in tables) with corrections for aspect ratio, planform and wing twist. Since L/D is often around 50:1 in level flight it is a small component of drag. However when pulling G it becomes more significant.
The Me 109 wing likely had less parasitic drag since it was smaller. At very high speed, near transonic, the Spitfire wing may have had less parasitic drag since the thickness/chord ratio was less. and so less shockwave drag was created.
In terms of induced drag the Me 109 was almost certainly worse even though the wing had less parasitic drag.
This is because as the wings angle of attack is increased its lift increases rougly linearly with angle of attack however the drag tends to increase with the square of the angle of attack.
The smaller wing of the Me 109 must pull higher angles of attack to generate the same lift (though remember they have different wing sections). Because the Me 109 had slats that might have allowed about 40% extra angle of attack and roughly 40% extra lift the aircraft can certain generate a great deal of lift from its smaller wings. However to generate that high lift from small wing means more induced drag is created; this will slow the aircraft down and cause it to loose height.
The drag on a wing has two components: a parasitic and a induced component, though in charts and tables they are usually combined into one they can be seperated out in some of the equatuons which give lift and drag in terms of a polynomial.
Having sufficient power was absolutely critical for Me 109 which is probably why in late 1944 when Me 109G10, Me 109K4 and likely Me 109G14ASM were reasonably common that some P-51 pilots reported being outmanouvered at altitude.
