Can someone explain how to cut a circle out of this circle? I have this circle:

And i'm trying to cut another circle out of the center of it, roughly in a shape like this:

I've looked all over the internet, but I couldn't find anything. The only tutorial I could find about this was made in 2013, so it was a much earlier version of Blender that I couldn't follow along with. I started using Blender yesterday. Any help is greatly appreciated, thank you!
Select the object that will be the &quot;hole&quot; in the 2nd object,

Shift + select the target object.

Tab to enter edit mode

Numpad 7 to go to top view (the cut will be projected so the view is important).

Enter edit mode with both selected, go to mesh, knife project.

Then just remove the resulting face.