Both Hinduism and Buddhism focus on liberation from the endless cycle of samsara - the endless cycle of birth and death, and the suffering that comes with that cycle.
There are, however, important distinctions in how the two traditions view this liberation.
In Hinduism, this liberation is known as "moksha." This term literally means "release" in the sense of "letting go." Moksha is the letting go of the repeated birth and death of the physical body - reincarnation. Because Hindu teaching includes the notion of a soul, or "atman," when someone attains moksha, their soul merges with Brahman - the source of all existence.
In Buddhism, liberation from samsara is known as "nirvana." This term literally means "extinction" or "blowing out," in the sense of extinguishing a burning flame. In Buddhist teaching, humans are bound to samsara through the flames of anger, ignorance and desire. So in Buddhism, when one attains nirvana, one extinguishes anger, ignorance and desire.
This is a subtle and tricky point - in Buddhism, humans escape life and death by extinguishing anger, ignorance and desire, even though the physical body may still be alive (death is not a prerequisite for nirvana). This is why Buddhists talk of rebirth rather than reincarnation.
A Buddhist who has attained nirvana is untethered from anger (which focuses on the past), ignorance (which focuses on the present) and desire (which focuses on the future). Nirvana is the extinction of time, and since life and death are bound by time, nirvana is the freedom from life and death.