Scotty,
A "hit" is anything that has been visited on your pages. If you have 100 small images that show up on a page, they are only "linked" to the page. So the page is 1 hit, and each image linked to it also had to download the the page, they they are 1 hit each, making that one page count for 101 "hits" every time someone goes to it. Hit counters (the ones on the web page itself) can also be started at any number, so a page with a hit counter of 100000000000 hits could only have a few hits.
Page views count the number of times a page has been viewed, or the number of pages that have been viewed on your site. If this number climbs every month, that means that users are looking at more pages = good thing.
Visits is a count of how many times someone has come to your site. If that IP address leaves the site and comes back to it, that counts for 2 visits. This is a much more accurate accounting for how many times your website has been visited, and the number of visits will be way smaller that the number of "hits"
Unique visitors tracking (some panels have that) is a way to track how many different computers have visited your site. If a user visits every day all month long, they will only count for one unique visitor. Nice way to see how many different computers are checking your site.
A couple things to concider are the number of page views (more pages mean that you kept their interrest long enough to flip the pages) and the duration of time that the visitor has stayed on your site. If 98% have only been on there for 30 seconds or less, maybe its time to give them a reason to stay. If they already stay a while, that is good. If this visit time drops after a home page change, it will help you to see that you are loosing traffic to your site.
Wow, I gotta keep these answers shorter!
That's the end of the lesson for today.
Cliff
E-Learning Specialist
www.mainsites.ca is my website, and yes, some of it is crappy.