What is the difference between a hemothorax and a pneumothorax?

Different: Hemothorax is blood fluid rhat collects around the lung from trauma or injury as an example. Pneumothorax is collection of air around the lung from an air leak.

Air or blood: Pneumothorax is an accumulation of air outside your lung but inside your chest/ribcage. Hemothorax is an accumulation of blood outside your lung but inside your chest/ribcage. Both may be commonly described as "collapsed lung" because the air and/or blood in this space displaces your lung and prevents complete expansion of your lung.

Blood or air: Both are collections within the chest- pleural space. Hemo is blood pneumo is air.