They are both! Well, sort of.
A black hole is what happens when a dying star collapses under its own weight. It becomes incredibly small and incredibly heavy.
Since mass means gravity, an object that's so heavy and so small has an incredible gravity. So incredible that not even light can escape.
Since light can't escape, we can't see the star itself. Instead we see a "hole". A "black hole". But it's not a real hole: it's more like a sphere, a bubble if you like. And inside that black bubble lies the star, but you'll never be able to see it. Unless you enter the black hole and survive it, which is impossible due to extreme gravity. You'd be turned into a spaghetti (search "spaghettification").
You can just read Wikipedia:
RE: what are black holes exactly.
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