When you have your blood drawn at the lab the tube will be spun in a centrifuge in the lab... this separates the parts of the fluids and solids that make up the blood in your body. Once the blood is separated most of it consists of plasma (about 55% of total volume) or the lighter "fluidy" portion of the blood, the plasma consists of dissolved proteins, glucose, clotting factors, mineral ions, hormones and carbon dioxide...
The next portion are the white cells (among other things) and at the bottom are the actual red blood cells themselves, which give the blood its red color, carries the oxygen around to tissues in the body...to put it simply.
The plasma is the largest part and portion of the blood and the red cells make up about (normally) around 48% for men and 38% for women.
So the term hematocrit (Ht or HCT) or packed cell volume (PCV) or erythrocyte volume fraction (EVF) is the proportion of blood volume that is occupied by red blood cells.
Dehydration can effect your hematocrit as well. Which is why you hear so many pros here always saying "you should drink lots of water"...it helps.
The important thing to remember is prolonged elevated hematocrit levels is one factor in causing increased risk of blood clots resulting in strokes or heart attacks.
Put simply the hematocrit are the red cells themselves minus everything else in the blood.
To emphasize an important point...we all are chronically dehydrated as a population, if your urine is even slightly dark and colored you need more fluids...drink water and lots of it....not just fluids...but good clean cold water !!!!!