Random Riddle: Same Spelling

What word is this riddle describing?

Pronounced differently but spelled the same
I have many meanings from obscure to mundane
In a trip across water, I get there before you
In precipitation amazing, a marvel to awe you
One naming of me means to acknowledge the praise
I move fastest in music as the violin maestro plays
Taught to children of all ages, or trip up they would
I was also much favored by a notorious Hood.
 

Random Riddle: Same Spelling