Some things are much easier to define by what they are not, than by what they are. Scientific theories, for example, cannot be proven or verified under any circumstance - later observations may necessitate revisions. But they can be falsified. And so can their interpretations. The long-standing claim that no classical system can reproduce Bell-like correlations has now been falsified. See the link at the top of this page; note also that there is no reference to any physical laws at all, either quantum or classical - it is pure math. As I noted in a FQXI essay contest several years ago, physicists have been mistaking the properties of the mathematical symbology that they use to describe reality, for properties of "physical reality itself" for a long time.
As for what exists, as Descartes noted centuries ago, the only thing that we know exists, with certainty, is our own thoughts. Hence, applying the point made above, "physical reality" might be best defined as that which exists, independently of our own thought.
Rob McEachern