Hazard:- Something which has the potential to cause harm.
Example:- Electricity, Noise, Chemicals, Stress, Working up a ladder, etc.
Risk:- A risk is the chance it can be high or low, that has any hazard will cause somebody harm.
Example:- 1) If You are working alone at the office.
2) If snagged on a sharp object of electric cabling that is a hazard
The exposed electric wiring places it comes under the high-risk category.