Loewy is a small lunar crater that lies along the eastern rim of Mare Humorum, in the southwest part 's near side. This is a lava-flooded formation that lies to the southwest of the larger, lava-flooded crater Agatharchides. To the southeast is an even larger lava-flooded formation, Hippalus. The rim is worn and eroded, with a break in the southwest where lava may have flooded into the interior from the surrounding lunar mare. (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.