Unless you really know what you’re doing, you’re better off trying to steer the car into the safest crash site/uphill possible than to try to stop it with the hand brake. The hand brake only locks the rear wheels and are not designed to brake at driving speeds (they are for keeping a stationary car from moving). Improper use of the handbrake results in the car spinning out.
This is exactly why I'm so sore about the newfangled button handbrake in my current front-wheel driven car. No more fun getting the rear to spin out by yanking the handbrake while exiting a corner at full throttle. Sadness.
It screeches warnings at me and fully engages the brake after a second or so. Which isn't optimal... because this is such a dumb ass dick move you need good timing over when you engage and release the rear brake. Or otherwise you'll end up outside the designated driving surface.
