Hi
HSRP is a Redundancy Protocol used usually on Core Switches.
This protocol forms a Virtual Core Switch that has more than One Core (Dual Core Switches in most cases and Multiple in Distributed Core situation).
So,
Its a part of the Redundancy and load sharing techniques in the network where one Routing Switch is active and the other in Standby waiting for the Master fail to handle its operation , and in some cases both Routing Switches will work in Active/Active topology.
HSRP is a Cisco proprietary, and your equivalent is the VRRP which is standard.
Note: VRRP does load sharing between all the Routing Switches involved in the VRRP operation.
More info about VRRP:
http://en.wikipedia.org/wiki/VRRPMore info about VRRP operation on ProCurve Switches:
ftp://ftp.hp.com/pub/networking/software/3500-5400-6200-MRG-0207-K_12_XX-6-VRRP.pdfGood Luck !!!