Stemming from the misspelling of the word "owns", being that the "p" key is right next to the "o" key. It does not mean the possesive "owns", but as in a form of domination, such as in a game or sport.
It originated fromthe word "own" but since the P is right next to the O people confuse them. People in internet games would say "I'm gonna own you!" which would mean "I'm gonna beat you at this." or something to theat extent.
Essentially it means "is much better than" or "humiliates", and is most commonly used as a verb. "Pwn5" is the ultimate way to say "pwns", much in the same way "1337" is the ultimate way to say "l33t".
The "5" represents the "s". It is also mid-way between 0 and 10, so is considered a direct hit between the eyes i.e. perfect. This stems from the origins of the word in online multiplayer gaming, where a perfect shot is respected.
So if you want to be 1337, you should say "pwn5" instead of "pwns" ;) :P
That guy doesn't just OWN the stage, he PWNs it.
Scott was just lost the fight; Mike PWNs him now
By Perle
Pwns
A descriptive word implying that the skills u have are far superior to the person uretalkin to.
my skills pwns ures come back when ure pr0.
"m8 remember that time when u pwned me...." "erm no..." "exactly Biznitch u suck my balls. my skills pwns ures.... come back when u can beat ure mum pppfpfpffff U SUCK!!!."