Named after Georgii Nikolaevich Babakin - Soviet space scientist (1914-1971).
Babakin is a small lunar impact crater that is located in the southern part of the walled basin Fermi on the far side. The crater rim is symmetrical, circular and sharp-edged, with only some minor erosion and a slight depression along the northern edge. The interior walls slope downward gently toward the center. (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.