The word 'lit' can mean a few different things based on the context. In its most common usage, 'lit' is the past tense of the verb 'light,' meaning to illuminate something, like lighting a candle. However, in informal slang, it often refers to being intoxicated or very excited, often in the context of a party or social event.
The word 'lit' is derived from the Old English 'ht,' the past tense of 'light,' which comes from the Proto-Germanic *leuhtw, meaning to make light or to illuminate. The slang usage of 'lit' as a term for excitement or inebriation emerged in the early 21st century, gaining popularity in youth culture and social media.