If you compare both Hiranyakashyap and Ravan out of them Hiranyakashyap was more powerful. Both were born in different Yugas so they never faced each other, Hiranyakashyap was in Sat Yug and Ravan was in Treta Yug.Hiranyakashyap was killed before Ravan was born.
The reasons why Hiranyakashyap can be said to be more powerful than Ravan.
It is said that Ravan once tried to lift Hiranyakashyap earrings but he was unable to do so because they were very heavy ( from Uttara Kanda of Ramayan).
Ravan was defeated by Kartavirya Arjun, Bali and was also defeated and captured by Indra. However his son Indrajit rescused him. Hiranyakashayap had defeated Indra and captured his throne.
Kartavirya Arjun defeating Ravan
Bali
Ravan once went to the Pataal Lok and challenged the king with the intention of capturing it. Since the powers of outsiders do not work in the Pataal Lok, the children playing there held him captive and put him in the stable of horses.
Ravan never ruled all the 3 Lokas. Hiranyakashyap ruled all the three Lokas.
Hiranyakashyap
Hiranyakashyap got 2 boons , one from Lord Brahma and oher from Lord Shiva in consequence of these two boons, Hiranyakashyap became so mighty that he was able to shake the Himalayas down to their roots.
After Hiranyakashyap younger brother, Hiranyaksha, was slain by the hands of the Varaha avatar of Vishnu, Hiranyakashyap came to hate Vishnu. He therefore decided to kill him by gaining a boon of invulnerability from Lord Brahma.
Hiranyakashyap was having a boon that he cannot be not slained by any living being, not at daytime or night time and not above or below.
Hirankashyap killed by Narasimha
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