Hypnosis and meditation differ in that they are used for different purposes. Hypnosis requires focused inward attention to actively engage in thoughts, feeling and actions that will help a person overcome stress, depression, destructive habits and phobias. Meditation is all about not latching on to anything specific and letting thoughts enter your mind, acknowledging them and letting them go. There is no specific goal in meditation aside from staying present.
Both offer the by-product of making us feel calmer, more connected. Hypnosis helps people make lasting changes in their life in a very short period of time because the work is being done with their unconscious mind where many of their issues reside.