might (v.) Look up might at Dictionary.com
O.E. mihte, meahte, originally the past tense of may (O.E. magen "to be able"), thus "*may-ed." See may (v.). The first record of might-have-been is from 1848.
might (n.) Look up might at Dictionary.com
O.E. miht, earlier mæht, from P.Gmc. *makhtuz (cf. O.N. mattr, O.Fris., M.Du. macht, Ger. Macht, Goth. mahts), from PIE base *mag- "be able, have power" (see may (v.)).