Definitions by 1337_n00b

Pwnage 

Basically means to rule over another person, or to get told/killed(in fps and MMO)/raped/etc. Commonly used now and is a common trend amongst most people to say it.
Pwnage is pronounced "OWN" and usually people spell Pwn as Own. People also pronounce it incorrectly as "Porn" and "Poan".

Present tense: PWN (I pwn all ur asses)
Past tense: PWNED (YOU GOT PWNED !!!111oneoneone)
Adjective: PWNAGE (Fear my PWNAGE!!!)
(may be in lower case)

Pwnage by 1337_n00b October 17, 2006