Sony Hi8 camcorder
No it is an Analog Camera - and have NO Digital-Out
I may be made a Wrongful assumption in that the - Panasonic digital camcorder - was a Digital 8 Camera.
If it is - it has a Digital Out (FireWire) and can playback the Hi 8 tapes from the other Camera.
If it is a miniDV Camera - it also have a FW-out (Digital out) - BUT can not play Your Hi 8 tapes.
Then there are not so many ways to do this.
If Your Panasonic digital camcorder - Has Analog in RECORDING ( not all have this, it was an EXTRA Cost ! ) - Then You can playback from the Hi 8 Camera to this and record onto a miniDV tape - to be played and Captured/Imported into Your Mac.
The Panasonic digital camcorder - Might have a feature - Play trough - that makes it possibly to use it as an Analog - Digital bridge - some can do this - But You've not told the exact type/no: etc - So I can not guess.
If this still do not work (The Panasonic digital camcorder do not have an Analog in connection/function)
- Then You need an Analog/Digita Converting box - from Hi 8 to this A/D-box then to Mac via FireWire.
There are several types and prices - I got a fairly expensive box due to that I've lot's of old VHS tapes in even bad quality. And this - Canopus ADVC-300 - has a function - Timebase Correction - that helps a lot in regard to drop outs and Audio slowly going out of sync. I just keeps perfect even over several Hours of VHS-tapes.
Yours Bengt W