The Collaborative International Dictionary of English v.0.48:

Notch \Notch\, v. t. [imp. & p. p. Notched (n[o^]cht); p. pr.
   & vb. n. Notching.]
   1. To cut or make notches in; to indent; also, to score by
      notches; as, to notch a stick.
      [1913 Webster]

   2. To fit the notch of (an arrow) to the string.
      [1913 Webster]

            God is all sufferance; here he doth show
            No arrow notched, only a stringless bow. --Herrick.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Notch \Notch\ (n[o^]ch), n. [Akin to nock; cf. OD. nock, OSw.
   nocka. Cf. Nick a notch.]
   [1913 Webster]
   1. A hollow cut in anything; a nick; an indentation.
      [1913 Webster]

            And on the stick ten equal notches makes. --Swift.
      [1913 Webster]

   2. A narrow passage between two elevations; a deep, close
      pass; a defile; as, the notch of a mountain.
      [1913 Webster]

WordNet (r) 3.0 (2006):

notch
    n 1: a V-shaped indentation; "mandibular notch"
    2: the location in a range of mountains of a geological
       formation that is lower than the surrounding peaks; "we got
       through the pass before it started to snow" [syn: pass,
       mountain pass, notch]
    3: a V-shaped or U-shaped indentation carved or scratched into a
       surface; "there were four notches in the handle of his
       revolver"
    4: a small cut [syn: notch, nick, snick]
    v 1: cut or make a notch into; "notch the rope"
    2: notch a surface to record something