A hot wallet you use daily, like a normal wallet/purse. You don’t have a life changing amount of funds in it so if it was lost or stolen you wouldn’t loose much.

This might be a mobile app or something you access daily and should be secured but easily accessible.

A cold wallet is more like life savings. Security is critical and convienience is secondary to security. You might need to jump through hoops to get to the funds but that’s ok as you rarely ever need to draw from it. If these funds were lost or stolen it would dramatically affect your life style.

The point of a cold wallet is to increase security and reduce convienence.

Hope that does a better job at explaining it.