The word wyrd means fate or personal destiny. The cognate term in Old Norse is urðr, with a similar meaning, but also personalized as one of the Norns, Urðr (anglicized as Urd) and appearing in the name of the holy well Urðarbrunnr in Norse mythology ( Well of Urd ). The concept corresponding to "fate, doom, fortunes" in Old Norse is Ørlǫg.
The well of Urd or Urðarbrunnr is cited as one of three wells existing beneath three roots of Yggdrasil that reach into three distant, different lands; the other two wells being Hvergelmir, located beneath a root in Niflheim, and Mímisbrunnr, located beneath a root near the home of the frost Jötnar.
Always a bit of mythology and culture, doesn't harm anyone, but now back to the subject.
As i've tould before in an other post, in the Norse pagan view, the wyrd shows us that we are a part of a great "tapestry", which connectes us to the Gods and to our ancestors, our personal fates are influenced by the ancestors that came before us, of course i am not saying that we are fated to a certain destiny our a certain path, but rather that we have some inclinations to some things, doings and wishes. For instance, the three Norne, goddesses of fate, they sew up a great tapestry or the wyrd that connects us all to the natural world and to each and everyone of us, but they never end their work, which means that we are free to shape our lifes and find for our selfs our destinys. See the wyrd as a great web also, a cosmic web, where we are all in and connected to each other, so if one thread of this web is broken, we also feel it and we take the consequences, simple as this, if we do not respect and take care of the world arround us, this world were we are living in, sooner or later we will fall because many threads in the web are being broken.