Freud Jung . . . An enormous amount of our psychological functioning is unconscious or automatic. We experience several different states of consciousness everyday, most significantly in the form of circadian rhythms. Dream states are very like waking consciousness, but with altered inputs to the brain. The bizarreness of dreams may simply reflect the attempts of the brain to make sense of random neural events.
Hypnosis appears to be most like an altered state of suggestibility.
There are strong individual differences in susceptibility to hypnosis. Many of the claims regarding hypnosis appear to be very overblown.