Out \OUT\ , adverb; adjective; preposition; interjection; noun, verb;
Out is the Modern English from of Old English ut, which comes from Proto-Indo-European *ud- ("up, up away"). I didn't give the definitions because you know what they are, also Dictionary.com listed 76 of them. But, I will give you the history of a few of them:
Out-and out meaning "thoroughly" dates to the early 14th century
Use as an adjective is attested from 1813, but the adjective out-of-the-way ("remote, secluded") dates to the late 15th century.
An out in baseball dates to 1860 as a borrowing from cricket which used out since at least 1746.
Out of sight meaning "excellent, superior" dates to 1891.
Out meaning "unconscious" is first attested in 1898 and was originally boxing terminology.
The construction It out-herods Herod came from Shakespeare and was widely imitated in the 19th century.
Out-of-towner meaning "one not from a certain place" dates to 1911.
Out of this world meaning "excellent" dates to 1938.
Out to lunch meaning "insane" is slang from the 1950's.
Out meaning "not popular or modern" is first attested in 1966.
Out meaning "to expose as a closet homosexual" was first written in 1990, but "openly avow one's homosexuality" dates to the 1970's.
Out is also very common in compound words like outcast, outcry, outlaw, outside, and many more. But, beware 'false friends'. Outrage has nothing to do with out or ut because it is a French borrowing. It comes from Old French outrage which ultimately derives from Latin ultra.