Technically, the fastest person on the planet is currently Usain Bolt. He set the record for the hundred meter dash 16 August 2009 in Berlin, Germany, running in 9.58 seconds. The current women's world record holder for the same race is Florence Griffith-Joyner; she set the record in Indianapolis, Indiana 16 July 1988 at 10.49 second (nearly a second slower than Bolt).
However, Ms. Griffith-Joyner did outpace the men's record holders from 1912 and 1920 Donald Lippincott and Jackson Sholz (respectively) who set a pace of 10.6 seconds.
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Biological sex does not determine running speed. Factors such as training, genetics, and personal motivation play a significant role in an individual's running speed, regardless of gender.