When you setup a Space, you will be prompted to choose a Hub template. This will automatically create some Hubs for you. However, you might want to rename them or amend the settings of each Hub.
To do this, go to your Hub and select the Settings icon in the top right corner.
You then then do the following:

You might have a Hub where you want members to have specific permissions, so for example if you have a Hub where you want them to view content but not reply like in a content library. You can change these settings per Hub.
These permissions include the ability for members to be able to: