Born in West Germany at Straubing, Bavaria, Wenzel moved to Liechtenstein at an early age. After she and her younger brother Andreas had success in ski racing – Hanni won the gold medal in slalom and silver in the combined at the 1974 World Championships – the family was granted Liechtenstein citizenship. Winning the slalom title on 8 February 1974, she did become the youngest female Alpine Skiing World Champion in the slalom discipline (17 years, 1 month, 25 days) - ousting Esme Mackinnon who was the first female Alpine Skiing Champion in 1931; the British racer was 17 years, 2 month and 17 days young when she was victorious in the slalom race on 19 February 1931.
At the 1976 Winter Olympics in Innsbruck, she won the country's first Olympic medal, a bronze in the slalom at Axamer Lizum, and also picked up another world championship medal in the combined.
After winning the World Cup overall title in 1978, Wenzel's best year came in 1980. At the 1980 Winter Olympics in Lake Placid, she won gold medals in the slalom and giant slalom, and just missed out on a sweep by taking the silver in the downhill at Whiteface Mountain. She also easily won the world championship gold medal in the combined event, its final edition as a "paper race" and her fourth world championship medal in that event. At the same Olympics, her brother also won a silver medal, placing Liechtenstein high in the medal ranking of the games. In addition to her Olympic success, she won nine World Cup races in 1980 and captured the overall, giant slalom, and combined season titles, and brother Andreas won the men's overall for a Wenzel family sweep of the overall titles. Her daughter Tina Weirather won a bronze medal in Super-G for Liechtenstein at the 2018 Winter Olympics in PyeongChang.
Wenzel retired following the 1984 season with two Olympic titles, four World titles, two overall World Cups, three discipline World Cups plus three combined titles, and 33 World Cup victories. (Through 1980, the Olympics were also the World Championships.)
Through the 2018 Winter Olympics, Liechtenstein has won a total of ten medals at the Winter Olympics, with eight won by two sets of siblings – the Wenzels earned six, while brothers Willi and Paul Frommelt are responsible for two more.
From 1948 through 1980, the Winter Olympics were also the World Championships for alpine skiing.
At the World Championships from 1954 through 1980, the combined was a "paper race" using the results of the three events (DH, GS, SL).
^"Hanni WENZEL". Archived from the original on 3 March 2012. Retrieved 18 February 2010.{{cite web}}: CS1 maint: bot: original URL status unknown (link). fisalpine.com