Named after Michael Faraday - British chemist, physicist (1791-1867).
Faraday is a lunar impact crater in the southern highlands. It lies across the southeast rim of the larger crater Stöfler, and the northwest rim forms a wide rampart across the otherwise flat floor of Stöfler. To the west is Maurolycus. The rim has been significantly overlain by subsequent impacts, most notably by an overlapping pair across the southwest rim and a crater across the northwest rim. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.