what should be done if there are conflicts within Scrum Team

Do you have a specific scenario in mind?   The topic of "conflicts" within a Scrum Team is much too large to provide you with any relevant guidance or advice.

Keep in mind, the Scrum Team is composed of all three Scrum roles (Scrum Master, Product Owner, Development Team), so your question encompasses conflict between all three, in addition to internal conflict within the Development Team.   There are also a number of different conflict types that can apply (opinion, personality, role/responsibility, etc.).

I'll add to Timothy's that not all conflict is something that needs to be resolved. Some conflict is healthy in a team and will usually will not cause problems. 

It would be easier for us to give you some advice if you could provide more details.  

I am new to Scrum and wanted to understand what are the different types of conflicts that can arise within Scrum Team and how to resolve them. 

Is a prescriptive approach to managing conflict likely to be practical?

Is a prescriptive approach to managing conflict likely to be practical?

I am thinking the same thing as Ian...

what are the different types of conflicts that can arise within Scrum Team

Any and all, on personal, team and organizational level

how to resolve them

By any means available and matching the problem-space

That would be my somewhat useless answer

from all the above feedbacks, i inferred that practically one can experience and resolve by any means.

I would like to know from the teams you managed if you came across conflicts (like work, opinion, team etc)  and whats the best way to resolve. If this can be explained with an example.

Dattatreya - Do you view all conflict as bad? Can you think of a time when good outcomes resulted from conflict? Would a self-organizing team benefit from learning to solve conflict themselves?