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 rawskill, usually in epic and humiliating ways. Typically affects noobs rather thannewbies