A meteorite is a natural object originating in outer space that survives an impact with the Earth's surface. While in space it is called a meteoroid. When it enters the atmosphere, impact pressure causes the body to heat up and emit light, thus forming a fireball, also known as a meteor or shooting star. The term bolide refers to either an extraterrestrial body that collides with the Earth, or to an exceptionally bright, fireball-like meteor regardless of whether it ultimately impacts the surface.
Meteorites that are recovered after being observed as they transited the atmosphere or impacted the Earth are called falls. All other meteorites are known as finds. As of mid-2006, there are approximately 1,050 witnessed falls having specimens in the world's collections. In contrast, there are over 31,000 well-documented meteorite finds.
Meteorites are always named for the place where they were found, usually a nearby town or geographic feature. One notable exception is Barringer Crater (commonly referred to as Meteor Crater) in Arizona which is named after a man who posited that it was formed in an impact with an extraterrestrial object. In cases where many meteorites were found in one place, the name may be followed by a number or letter (e.g., Allan Hills 84001 or Dimmitt (b)). Some meteorites have informal nicknames: the Sylacauga meteorite is sometimes called the "Hodges meteorite" after Ann Hodges, the woman who was struck by it; the Canyon Diablo meteorite, which formed Meteor Crater has dozens of these aliases. However, the single, official name designated by the Meteoritical Society is used by scientists, catalogers, and most collectors.
Meteorites have traditionally been divided into three broad categories: stony meteorites are rocks, mainly composed of silicate minerals; iron meteorites are largely composed of metallic iron-nickel; and, stony-iron meteorites contain large amounts of both metallic and rocky material. Modern classification schemes divide meteorites into groups according to their structure, chemical and isotopic composition and mineralogy.
Description taken from Wikipedia Page on Meteorites