The Collaborative International Dictionary of English v.0.48:

Albatross \Al"ba*tross\, n. [Corrupt. fr. Pg. alcatraz
   cormorant, albatross, or Sp. alcatraz a pelican: cf. Pg.
   alcatruz, Sp. arcaduz, a bucket, fr. Ar. al-q[=a]dus the
   bucket, fr. Gr. ka`dos, a water vessel. So an Arabic term for
   pelican is water-carrier, as a bird carrying water in its
   pouch.] (Zool.)
   A web-footed bird, of the genus Diomedea, of which there
   are several species. They are the largest of sea birds,
   capable of long-continued flight, and are often seen at great
   distances from the land. They are found chiefly in the
   southern hemisphere.
   [1913 Webster] Albe

WordNet (r) 3.0 (2006):

albatross
    n 1: (figurative) something that hinders or handicaps; "she was
         an albatross around his neck" [syn: albatross,
         millstone]
    2: large web-footed birds of the southern hemisphere having long
       narrow wings; noted for powerful gliding flight [syn:
       albatross, mollymawk]