Dear Cely,
I am never very comfortable with: "What is the correct way to say ...?" because there are often acceptable alternatives.
In my part of the world, the following, (together with �please �), are perfectly acceptable.
"What do you call this?" --- pointing to the object and waiting for the name.
"What is the name of this?" --- pointing to the object and waiting for the name.
"How do you say this?" --- pointing to the written English word and waiting for the pronunciation.
"What �s the English for �Hola �?" --- speaking in another language and waiting for a translation.
"How do you say �Hola � in English?" --- speaking in another language and waiting for a translation.
There are probably other acceptable phrases.
I hope that this helps.
Les