It derives from being “owned” in an online FPS game, like DOOM or QUAKE.

If someone frags you, esp. quickly, they consider you “owned”. If they type “owned” in the text message box too quickly (because they’re too busy shooting stuff), they hit the “p” key instead of the “o” key, because those keys are spatially local, and they end up typing “pwned”. Eventually, “pwned” became more popular to type than “owned”.

A complete mispelling of an already mispelled word....pwned. People only use this spelling of the word when they are trying to be extra-retarded.

The incorrect way to pronounce "pwned". The actual way to pronounce it is "pawned", as the O is being REPLACED by the P, as opposed to being latched on to the front of the word.

To smack someone with your dick. Mainly across the face. then instantly saying powned.

When your ballsack smacks against someones forehead.

The act of dying tampons red and throwing them at cars

1. A common typo used by internet gamers and geeks all over the world.
2. Meant to read "owned", but the P in the beginning is usually inserted by gamers.