Yes. Cloning a hard drive usually means taking two hard drives, one with data on, and the other one either blank or containing data that can be erased, and using a software program such as Acronis Disk Imager (or good old Norton Ghost) to make the blank one an exact copy of the first one. All in one operation. people often do this when they buy a new hard disk to replace an older one, and they want to transfer their operating system and/or data to the new drive.
Another way to get the same result is to use the same software to make an "image file" of the first disk (on another disk, removable or otherwise) and later use the software to recreate the first disk on another one. Companies often do this so they can set up a PC just how they want it, and later on copy ("deploy") the disk contents to other computers.
Either way, you get a copy (a "clone") of what was on a disk, on another disk.