Concise Bible Dictionary:
In the Old Testament there are five words so translated, but only one that occurs frequently, adon, which is often rendered “Lord,” and signifies “master” either as owner or ruler. In the New Testament there is 1. κύριος, often translated “Lord”; this is rendered “master” in reference to God in Ephesians 6:9 and Colossians 4:1; and is often used as between master and servants.
2. διδάσκαλος, “teacher.” This is often translated “master” in the gospels in application to the Lord (Matt. 8:19; Mark 4:38; Luke 3:12; John 1:38, and more). It is the same word in James 3:1, “Be not many teachers.”
3. δεσπότης, master in the sense of “owner,” as of slaves (1 Tim. 6:1-2; 2 Tim. 2:21; Titus 2:9; 1 Peter 2:18).
4. ἐπιστάτης, “superintendent, overseer” (Luke 5:5; Luke 8:24,45; Luke 9:33,49; Luke 17:13).
5. καθηγητής “leader” (Matt. 23:8,10).
6. ραββί, “Rabbi,” a Jewish title (Matt. 26:25,49; Mark 9:5; Mark 11:21; Mark 14:45; John 4:31; John 9:2; John 11:8).
7. κυβερνήτης, “ship-master” (Acts 27:11; Rev. 18:17).