To fix food is much more casual. The people speaking would be very friendly. The food would be simple, not fancy. Example: I'll fix hot dogs with beans for supper.
Preparing food is more polite and the food would be more fancy. There made be more work involved and better ingredients. Example:
The daughters helped their mother prepare food for the party.
I understand both and both could be used but one is fancy and one is casual.
I think it would sound unusual to say, "I fixed our holiday meal." This meal is too special for "Fixed".
I would not say, "I prepared a bowl of cereal." Cereal is so simple and boring that "Prepare" would be incorrect and funny.