1) To borrow something that you have no intention on paying back.
Hey, lemme hack a cigarette from ya
2) Used in the subculture of stand-up comedy to describe a person whose routine is a pastiche of tired cliches, trite material, easy punchlines, or common topics. In addition, any comic who uses props, does a Jack Nicholson impersonation, engages in magic or hypnotism or ever uses the phrase Have you seen these people?
Carrot Top is the ultimate hack.

<jargon> 1. Originally, a quick job that produces what is needed, but not well. 2. An incredibly good, and perhaps very time-consuming, piece of work that produces exactly what is needed. 3. To bear emotionally or physically. "I can't hack this heat!" 4. To work on something (typically a program). In an immediate sense: "What are you doing?" "I'm hacking TECO." In a general (time-extended) sense: "What do you do around here?" "I hack TECO." More generally, "I hack "foo"" is roughly equivalent to ""foo" is my major interest (or project)". "I hack solid-state physics." See {Hacking X for Y}. 5. To pull a prank on. See hacker. 6. To interact with a computer in a playful and exploratory rather than goal-directed way. "Whatcha up to?" "Oh, just hacking." 7. Short for hacker. 8. See nethack. 9. (MIT) To explore the basements, roof ledges, and steam tunnels of a large, institutional building, to the dismay of Physical Plant workers and (since this is usually performed at educational institutions) the Campus Police. This activity has been found to be eerily similar to playing adventure games such as Dungeons and Dragons and Zork. See also vadding. See also neat hack, real hack. [Jargon File] (1996-08-26)