Yesterday the day was normal, didn't use the water much just for bathroom and hand washing. Before bed my mother went to wash out her glass and noticed there was no water pressure. When she went to check the water tank she noticed the water spewing out of the tank and flooding our garage, she had to turn off the water to the tank to get the water to stop coming out and the power because there was a strange noise coming from it. The water was coming from the spout (sort of just leaking) but the main problem was from a hole that is sort of next to the spout, I'm not sure what that hole is for or why it is there, it was projectile water coming from there. The water heater is pretty old but we don't know what is wrong with it to just randomly flood us out.

Please help!