Unfortunately, hounds in general tend to be chewers - ask anyone
with a basset in particular. It tends to be a lifelong trait. As
for biting you in particular, they ought to grow out of it.
Scolding it IMMEDIATELY when it has nipped you with a firm "No!" is
often effective. There is absolutely no need to punish such
behaviour in a puppy by tugging/pulling on its lips, biting back,
shouting or hitting - all this will do is teach the puppy to become
defensive and possibly scared, which ultimately may make the biting
worse.