* Verb (past tense): This is the most common usage. For example, "He punched the wall."
* Adjective: It can describe something that has been punched, like "a punched ticket."
* Participle: It can act as an adjective, but also have a verb-like quality, like "The punched card was inserted into the machine."
To determine the part of speech accurately, you need to see the word in a sentence and understand its function within that sentence.