Web hosting is a piece of web space on a server that contains your website. Websites consist of files and usually also a database. When a visitor goes to your website, the visitor's web browser will connect to your website's web hosting and download the file from the page there. This file shows what the website looks like and what it contains. It may also contain additional code to retrieve and display data from a database, for example.
That is why it is also important that the web server where your site is located is available 24/7, if the server is not available then your website will not work.
Do I also need a domain name??
In addition to web hosting, you also need a name to refer to your website. The visitor types this name in the address bar to get to your website. With us this is, for example, digitpipe.nl. Domain names are always unique and can be registered for a (low) annual fee. You then become the owner of your domain name, and you can link this domain name to a web hosting account.
If you don't need a website, but just want to register the domain name so that you can use it later, or you just want to refer your website to another address, you don't need web hosting.