Hit points reflect your physical health, as well as stamina, luck, grace, and training. As such, the majority of "hit" do not reflect actual wounds of any significance. To reflect this, after any combat or strenuous action, a character can be brought back to their "fatigued" level, meaning 50% of their total hit points by resting one turn (10 minutes).
Example: Hrothgar has 40 hit points at full strength. After a vicious fight with a neiberlung, he was reduced to 14 hit points. By resting for a turn after the battle, he will be raised to 20 hit points. While fighting a marshtroll, he takes a wound, but survives at 10 hit points. Resting again will raise him back to 20 hit points. Additional days of rest or magical healing will be required to restore him to the full 40 hit points.