There are many different types of padlocks, so exact terminology will vary. Here are some of the more common terms though:
The shackle - the U-shaped piece that locks down
"Hardened" - this refers to tempering of the shackle to make it more resistant to bolt cutters
Plug - The part that the key goes into
Keyway - The milled out portion of the Plug
Tumblers - The small pieces that "read" the key
Body - the main part of the padlock
Retaining screw - on some padlocks this is in the hole the shackle normally sets it, this holds the lock cylinder in.
Source:
http://www.locksafesystems.com/
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