People who are Hispanic are from a country where Spanish is spoken. Hispanic Americans either emigrated or descended from Spanish-speaking countries.
Latino is a noun and an adjective. Latino is masculine, Latina is feminine, and Latinx is gender neutral. Latinos are people of Latin American origin (Mexico, Central America, or South America).
Spanish is a language, or a person from Spain. Hispanic and Latino people might speak Spanish, but their nationality is not Spanish unless they are Spaniards from Spain.