1.VerbTo be under an obligation to give something back to someone or to perform some action for someone.
"We owe it to our children to make our nation a better place to live in the future.; I owe Kevin five bucks which he lent to me last week.; This time I'll cover for you, but now you owe me a favour."
2.VerbTo have debt; to be in debt.
3.VerbTo have as a cause; used with to.
"The record owes its success to the outstanding guitar solos."