I always heard the terms 'staking' and 'peening' but staking is the one I heard the most. Might be a geographic thing.
I used to make (still do sometimes) my own locknuts. For a 1/2" nut I would set the nut on an anvil, then use an old punch or drift and give it a good whack with a machinist's hammer, creating a slight divot in one of the faces of the nut. Then repeat the process two more times so that every second face has a divot in it. The result is a nut that is deformed enough to lock very solidly onto the bolt or stud that it is installed on. This might be the same as the 'tri-lock' that somebody mentioned earlier in the thread. At any rate, sometimes it is easier to make the nut when you only need one rather than make a trip to the hardware store just for that one item. This type also works well in high temperature situations where nylock nuts won't survive.
I have also tried making them in the hydraulic press, and strange as it may seem, I seem to get better results with the hammer method rather than the steady pressure method. I guess shock value has some advantages.
Didn't mean to hijack the thread, just thought I might add some tidbits that somebody might find useful.