Bald-faced hornets are North American wasps in the same genus as yellow jackets. They differ in coloration from their cousins in that they have a greyish white stripe pattern on their head and abdomen instead of a yellow one.
Bald-faced Hornet
Bald-faced Hornet Nest
Bald-faced Hornets on Nest

I first learned about the aggressive nature of the bald-faced hornet (Dolichovespula maculata) the hard way: I threw a rock at their nest. The grey, papery egg-shaped nest was about the size of a watermelon and was hanging from a small tree in my childhood backyard. It was impossible for my preteen self to resist lobbing a few rocks in its direction. Finally, one small stone hit home with a satisfying smack. The hornets were on me within seconds. Like anyone in that situation, I ran away as fast as I could, swiping and screaming as I went. Finally escaping their ferocity after a few hundred yards, I'm lucky I didn't die. Don't make my mistake!
What kind of wasp is it? How do you know that the buzzing blur that just stung you was a bald-faced hornet? If you managed to kill it or got a good look at it, check out the photos in the sidebar. The main difference is that baldies are black and white. Without getting close to a wasp and examining it, the easiest way to identify a wasp is by its nest. The nest is going to be our main control target anyway, so the sooner you find it, the better. Bald-faced hornets tend to build egg-shaped paper nests up in trees or in the eaves of a roof. Their nest can range in size from a small football up to three feet long.
Protect yourself from the evil stinging beasts. Unlike bees, hornets can sting you repeatedly without losing their stinger. However, if there are a thousand of them flying at you at once, that little tidbit hardly matters. If I were going to do battle against a nest of hornets, I would be sure to tape up my socks around my pants and strap on my beekeeping suit. What, you don't have one? You could buy one, but really the only unique thing about them is the screened head covering. The rest is just a fancy zippered cover-all. Window screen or mosquito netting could work. The main thing is to make sure it is off your skin or they will find a way to sting you.
Use wasp-killing sprays on aerial hornet nests. The best time to attack a nest of hornets is early in the morning or after the sun has gone down at dusk. The temperature tends to be lower around those times and the hornets respond by going back to the safety of their nests. Once you have donned your protective gear, grab a flashlight and your can of projectile wasp-killer spray. The range of those sprays is around 15–20 feet, so plan accordingly. Aim the spray at the opening of the nest, which is usually somewhere near the bottom, and let 'er rip. Soak the nest down with the spray and retreat. Check back the next day for activity. If there is any, repeat this step again.
Remove the paper nest carefully. If you're not into spraying poisons around, which is an admirable sentiment, another option exists. It has more potential for being dangerous, but is equally effective. Some things you'll need: a flashlight, a landing net with an extended handle, a garbage bag to fit in the net, and an extendable branch trimmer. Before you go out, plan your attack: Figure out the best way to cut or knock the nest into the garbage bag. Remember, any stick you cut will have to fit in the bag without poking a hole, so take care. Again, we attack at dark, when it's cooler. Once you have the nest in the bag, close it up and allow the wasps to die.
Use insect mesh to prevent hornets from building new nests. If you live in a heavily forested area, there is little you can do to prevent a wasp queen from building her colony near your house. Short of cutting down all of the trees and salting the earth, they are going to find a place to build eventually. However, there are things to do to prevent them from making a home on or in your house. If they are continually building nests in your eaves, consider installing an insect mesh over that area. Also, keep in mind that they might be attracted to a food source, such as nectar-producing flowers and decomposing garbage. Keeping those things to a minimum might help your cause.
Wasp nests inside of walls require a different tactic. Generally speaking, bald-faced hornets prefer to build their egg-shaped nests outside of a building. It's usually their cousins, the yellow jackets, who enjoy inhabiting enclosed spaces. But it can happen. Controlling wasps inside of walls is more complicated. You can't just spray the aerosol spray into the hole and hope for the best. The nest might be up, down, or to one side of the hole. The best method is to buy a bottle of Sevin dust with the puffer tip (or use a restaurant ketchup bottle), insert it into the hole at evening time, and inject as much powder as you can. Seal up the hole and watch the area for activity.
Depending on your situation, the easiest way to deal with wasps like this is to leave them alone, give them some space, and get rid of their nests during the winter months. That is assuming you have winter months and that you have the space available to simply avoid a hornet nest for a period of several months. In all likelihood, the hornet nest has already become a problem or you wouldn't have looked for this article. So, if you don't feel you are prepared for dealing with a bald-faced hornet problem on your own, there is no shame in calling in an exterminator. These insects are dangerous. An exterminator will have the safety equipment and chemicals all ready to go, not to mention the experience of dealing with aggressive insects. The peace of mind will be worth the money you have to spend.

Hornet trap. This method won't solve a hornet problem, but it might reduce the population a bit. Take an empty two-liter soda bottle and cut off the top third, invert it inside of the bottom, staple the plastic together, and devise a way to hang it with string or wire. Add some sweet, sticky liquid inside and you have yourself a wasp trap.

Wasp scarecrow. This is kind of a unique idea for passive hornet control. Evidently, when wasps see a big cloth wasp nest, they recognize it as being the territory of another nest of hornets and they stay away. I have read mixed online reviews of the Waspinator. It seems like it would be worth a try. It's pretty cheap or you could even make one.

Wasp repellents. As we all know, there are a bunch of plants that can be used to repel insects. It is unclear if these plants would be effective against a determined hornet, but it's worth a try. The insecticidal properties of pyrethrum (Chrysanthemum cinerariifolium) are well documented. Wormwood (Artemisia absinthium) is extremely bitter and contains some mild poisons. It also has some insect-repellent qualities. I find mint (Mentha spicata) to be very pleasing, and it's also an ingredient in some natural insect-killing sprays.