A banhammer is like a big hammer that a person in charge of a group or website can use to make someone go away. It's like when a grown-up tells a kid to go to their room because they did something bad.
When someone breaks the rules, like being mean or rude to others, the person in charge can use the banhammer to kick them out so they can't come back and be mean again.
Basically, it's a tool to help keep a group or website a safe and happy place for everyone to hang out.