Named after James Nasmyth - Scottish engineer, astronomer (1808-1890).
Nasmyth is a lunar crater located near the southwestern limb. It is attached to the southeast rim of the flooded crater Wargentin, and the southern half is overlain by the larger Phocylides. The rim is worn and impacted in several locations by craterlets, most notably Nasmyth D which lies across the north rim. The floor has been flooded by lava flows in the past, making the surface flat and the rim low. (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.