loslassen
to let go
To stop physically holding on to something or someone.
Lass mein Handgelenk los, du tust mir weh!
Let go of my wrist; you're hurting me!

to let go / release
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to let go
To stop physically holding on to something or someone.
Lass mein Handgelenk los, du tust mir weh!
Let go of my wrist; you're hurting me!

'Loslassen' (to let go) is a separable verb. The prefix 'los' comes at the end in a main clause. In subordinate clauses and in the infinitive with 'zu', the verb stays together.
Er ließ die Tasche einfach los.
He simply let go of the bag.
The verb is made up of the prefix 'los-' and the verb 'lassen' (to let). Here, 'los-' expresses separation or release, which gives the meaning 'to stop holding' or 'to free oneself'.
Bitte lass meine Hand los!
Please let go of my hand!
You can tell whether the physical or emotional meaning is intended from the object. With concrete things ('Hand' = hand, 'Seil' = rope), it is about holding on; with abstract terms ('Vergangenheit' = past, 'Sorgen' = worries), it is about emotional release.
Der Kletterer durfte das Seil auf keinen Fall loslassen.
The climber absolutely could not let go of the rope.
In a figurative sense, 'loslassen' (to let go) is often connected with emotional or abstract concepts. Typical phrases are: 'die Vergangenheit loslassen' (to let go of the past), 'die Kontrolle loslassen' (to let go of control), or 'alte Ängste loslassen' (to let go of old fears).
Im Urlaub konnte sie endlich den ganzen Stress loslassen.
On vacation, she was finally able to let go of all the stress.
to hold
'halten' and 'loslassen' form a clear opposite here. When you hold something, you grasp it and do not let go. When you let something go, you stop holding on to it. This can be an object, a person, or an animal. So 'halten' describes keeping something in your hand or arms, while 'loslassen' describes the moment when you open your hand or release the person or animal.

Lass den Hund erst los, wenn das Tor geschlossen ist.
Only let the dog go once the gate is closed.
Vor der Reise hat sie das Kind fest an der Hand gehalten.
Before the trip, she held the child firmly by the hand.