Yes — NHC is tracking 1 hurricane right now (Hurricane Rachel), plus 1 other active tropical system (Tropical Depression Nine). As of 8:00 PM PDT, Tue Oct 6. Storms that form in the Central Pacific (CPHC-numbered) are not covered here — see hurricanes.gov. Eastern Pacific storms that cross 140°W stay tracked here.
The cone shows the probable track of the storm's center — historically, the center stays inside the cone about two-thirds of the time. It does not show the size of the storm: hazardous winds, rain and surge often extend far outside the cone. Watches and warnings come from the National Hurricane Center; the animated background is the NOAA GFS model, one of many models, shown for context.