To give credit or recognition to someone for something they have done. I've got to hand it to you, the company has really turned a corner since you started managing the accounts. Still, you have to hand it to Jenny—she sure knows how to throw a party.

To pass or give someone something directly. A noun or pronoun can be used between "hand" and "to." I took a cupcake and then handed the plate to my mom. Hand this to Ed, will you? You'll see him before I do.