What is the best way to train a dog not to bark at people who walk by?

I tell him no and I spray him with water and hit him (not too hard) but he doesn't stop.

From what I've researched they say wear him out and distract him but even after I take him for a long walk he still barks. I also see reward the dog after it stops barking but I wouldn't want him to think I'm rewarding him for barking help me /an/?