The article discusses the phenomena and destructive mechanisms occurring on the surface of 1.2344 steel dies used during the hot forging of disc-type forgings. Preliminary research has shown that gas nitriding alone, used so far, is insufficient due to the occurrence of destructive mechanisms other than abrasive wear, such as thermal and thermomechanical fatigue, which cause the average durability of such tools to be approximately 5000 forgings. Analyses were also carried out to assess the load on forging tools using numerical modeling (Forge 3.0NxT), which confirmed the occurrence of large and cyclically changing thermal and mechanical loads during the forging process. Therefore, in order to increase operational durability, it was decided to use two types of hybrid layers, differing in the PVD coating used: TiCrAlN and CrN, and then subjected to gas nitriding (GN). The obtained results showed that, depending on the area of the tool and the current working conditions, the applied PVD coatings protect the surface layer of the tool against the dominant destructive mechanisms. In both cases, the strength increased to the level of 7000 forgings, the tools could continue to work, and globally, slightly better results were obtained for the GN+TiCrAlN layer. The CrN-type layer protects the tool more against thermal fatigue, while the TiCrAlN layer is more resistant to abrasive wear. In areas where the hybrid layer was worn, a decrease in hardness was observed from 1300 HV to 600–700 HV, and in places of intense material flow (front—point 2 and tool bridge—point 9) the hardness dropped to below 400 HV, which may indicate local tempering of the material. Moreover, the research has shown that each process and tool should be analyzed individually, and the areas in the tool where particular destructive mechanisms dominate should be identified, so as to further protect the forging tool by using appropriate protective coatings in these areas.