My experience comes from living in Australia and the UK. It will be different depending on location and level of formality.
"Hey Jane, how are you?" (It means hello.)
"Hi John, good thanks. You?" (It means, hello and I'm fine.)
"Yeah, good thanks."
With friends at a party or after not seeing them for a while. Usually with hugging.
"Jane! So good to see you! How's everything going?" (It means they are happy to see them and want to hear an update about their life.)
"Hey John. Yeah things are good thanks. Work's going well. You still working at Company?" (It is a polite and easy way to say things are good.)
With family or close friends:
"Hey, have a good day?" or "How was your day?" or "How did X (interview/meeting/discussion etc) go?" (Asking for details about their day. Normally this starts a long conversation.)
"Hey. What's happening?" (Asking if they have plans.)
"How's it going?"
"You all right?" (British - means hello. If you ask this in Australia it is because you are concerned something is wrong.)
(All with the hope that no one will start a long conversation.)
With coworkers who you haven't met, or who you see from time to time but have no idea who they are:
Smile by pushing your lips together and look awkward. Sometimes accompanied with a head nod.
Meeting people in polite situations (new boss, girlfriend/boyfriend's parents, someone important).
(Handshake) "Hello Mr/Mrs Name. Nice to meet you."
Regardless of formality, if I have met someone new I will always say "It was nice to meet you!" or "Lovely to meet you" when I say goodbye to them.