Wallace Crater is an impact crater in the Hellas quadrangle on Mars at 52.9°S and 249.4°W and is 173.0 km in diameter. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On Mars large craters are named after deceased scientists, writers and others who have contributed to the lore of Mars. Small creaters (less than 60km) are named after small towns and villages.