1. (noun) Technically, the word lyric, applied to a particular song, refers to a genre derived from Ancient Greece via folksong. It indicates a song sung by one person about one emotion (such as a poet might sing to lyre accompaniment).
2. (noun) A poem, originally meeting the same criteria as in (1).
3. (noun) Used in the business to describe a song, or its text, in a musical.
4. (adjective) Pertaining to the lyre, and all its associations with Ancient Greece, poetry and classical form.