Let me explain what a domain name is and what it is used for first. Imagine a house 🏠 and the one thing that a house has that never changes is an address. If someone wants to come over, they can if they have your address. It will never change to another address unless the house physically moves..
A domain name works much the same way. You purchase a domain name from a provider. Let us say you get the domain name www.business.com if you want someone to find you. All you do is tell people the address of your site.
A domain name in simple terms is a reliable way for people to find your website.
If a domain name is how people find your site. Hosting is how people can see it. Think of hosting like the contents of the house. Once your friend shows up it is full of furniture and people. You purchase hosting through a provide normally at the same time you purchase a domain name.
Hosting is where your site lives. It is where you install WordPress or upload files. Without hosting much like without a house, you cannot have anywhere for things to live. Hosting and a domain go together much like a house and an address.
Hosting in simple terms is where the files or kept that create the website.