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They are made by different companies. PSpice comes with a schematic capture program and does some things automatically. It is good for casual and new users. HSpice has a wider range of user selectable options but therefore requires more user skill.
All spice type programs are a direct copy of the spice program developed and maintained by the University of California at Berkeley USA. They differ by the shell wrapped around the core.
As I know the most significant difference is the simulator itself. Hspice includes a very fast simulator with excellent performance and accurancy. For instance with PSpice you will not be able to simulate high density circuits (100k transitors and more). PSpice performance is to poor for such application.
From my experience and from what i've read in a book PSpice is more user friendly at least when drawing the schematic but when it comes to simulation (read in a book) HSpice is better because it allows to select more integration algoritms and customise them and uses (a dirty trick if you ask me) a method (one of many) of reaching convergence wich consists of raizing the conductance (1/ohm, lowering ohm) that is connected with each device in the circuit (i hope i understood it right), and a really good advantage of HSpice over PSpice is the much better device models wich lead to less problems with convergence and a more accurate simulation.
In general i would say that HSpice is a lot better than PSpice but is a lot more difficult to master.
this is my personal opinions and i don't know much about it (i only know the things i've read, the experience i've aquiered, and the problems i've encountered and it is not much, other people know A LOT MORE than i do because i'm just starting now)
Hspice is better than pspice in simulation, I've experienced the painfull time when pspice did not support the mos models i needed or the models wildspread. but with hspice, all you need is a txt datasheep or library. But compared with pspice's friendly beautiful interface, hspice's is so poor(maybe it is mainly distributed in unix or workstation.) if you need to do ic design, hspice is the best choice after all!
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