Taken from modwest.com FAQ's :-
Any request made to the server is considered a "hit". A request can be for any object, an html page, a graphic image, an audio file, a CGI script, etc. So, "hits" are the total number of requests that were received during the specified report period.
A "visit", on the other hand, is a series of "hits" that are deemed to have come from the same browser within a certain amount of time. A "visit", therefore, represents a browser that came to your site for a while and then left.
Each "visit" is composed of many more "hits". For example, when a browser requests one page on your site, webalizer will report 1 hit for the page request, plus 1 more hit for each image or other object (flash object, javascript file, etc) that was referenced on that page. That is why hits are always greater than visits.
hope it helps
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