Crater meaning : A hemispherical pit created by the impact of a meteorite or other object. The basin-like opening or mouth of a volcano, through which the chief eruption comes; similarly, the mouth of a geyser, about which a cone of silica is often built up. The pit left by the explosion of a mine or bomb. (by extension) Any large, roughly circular depression or hole. To form craters in a surface (of a planet or moon). To collapse catastrophically; to become devastated or completely destroyed. To crash or fall. An ancient Greek vessel for mixing water and wine.