Is There a Difference Between "A Risk" and "A Hazard

Is there a difference between "a risk" and "a hazard"?

A) There is no difference, the two words are synonyms.
B) Yes: something is "hazardous" if it has a potential to harm, "a risk" is a likelihood of a hazard doing harm.
C) Yes: something is "risky" if it has a potential to harm, "a hazard" is a likelihood of harm happening.