Every building older than a century gets called "historic" by someone, and most of them are not. The distinction is between importance and age: a historic event changed something, a historical event merely happened. Journalists reach for "historic" because it sounds weightier, which is precisely why it has been worn thin.
An adjective meaning famous or important in history — significant enough to be remembered.
An adjective meaning relating to the past, or belonging to history. No judgement about importance.
Both words relate to history, but they are not interchangeable. Historic means important in history, significant enough to be remembered: a historic election, a historic win, a historic building. Historical means relating to the past, whether important or not: historical records, historical fiction, historical prices.
So every historic event is also historical, but most historical things are not historic. A receipt from 1890 is a historical document. The signing of a treaty that ended a war was a historic moment.
The test is whether you mean important. If you do, use historic. If you mean belonging to or about the past, use historical.
The peace treaty was a historical agreement that reshaped the region.
✓The peace treaty was a historic agreement that reshaped the region.
The point is its importance, so historic.
The county clerk keeps historic records of land sales.
✓The county clerk keeps historical records of land sales.
These are records from the past, not necessarily famous: historical.
She enjoys reading historic novels set in Victorian London.
✓She enjoys reading historical novels set in Victorian London.
Novels set in the past are historical fiction.
Quick way to remember
Ask whether the thing was important or simply old. Important gets "historic." Old, or about the past, gets "historical." If you can replace the word with "significant" and keep the meaning, "historic" is right.
Is it "a historic" or "an historic"?
In American English, "a historic", because the h is pronounced. "An historic" is an older or British form.
What is a historic district?
An area officially recognized for its historical and architectural importance. Historic is used because the designation is about significance.