1. Being completely wrong in any situation and someone calling you out on it:
"Steve was wrong, he got ownd by Jim."
2. Beating somone so badly to the point of complete humiliation:
"You got fuckin ownd!"
3. Being stupid:
"I got ownd."
In reference to pwnd, means the person being ownd was beatdown due to raw skill, usually in epic and humiliating ways. Typically affects noobs rather thannewbies
In an fps environment:
Guy 1 is outmanuevered by Guy 2 and is killed
(Repeat numerous times)