The term 'IT MAY BE CHIPPED' can be solved by the crossword solution 'TOOTH', which is a five-letter word. Teeth are hard, bony structures found in the mouths of many animals, including humans. They are used for biting and chewing food, and they are composed of dentin and enamel, which is the hardest substance in the human body. Teeth can become chipped or cracked due to trauma, decay, or wear and tear.