Correct spelling, explanation: shot is either a noun or the past simple form of the verb to shoot. Shot has Germanic origins and it could already be found in Old English in the form of sceot or gesceot. The word also appeared in German, in which it had the form of geschoss. In modern English, shot is a commonly used word, which has different meanings.

Definition of shot:
1. noun – kicking, hitting, or throwing a ball in order to score points,
That was a great shot, which guaranteed them the winning of the match.
2. noun – using a gun,
According to the witness, an unidentified man approached and fired a shot at the car.
3. noun – to try to do something, which you haven’t done before,
I’ve never done bungee jumping before, but I think I will give it a shot.
4. noun – a photograph
He took a really great shot of the sunset yesterday.
5. noun – a small amount of alcohol,
Let’s have a shot of whisky to celebrate the occasion.
6. verb – to fire a weapon in order to kill or injure a person or an animal
The policeman was shot twice in the head, which he didn’t survive.

Phrases with shot:
A few common phrases with shot include:
1. long shot – a risky attempt,
It was a long shot, but I did it and now I regret nothing.
2. big shot – an informal way to refer to a person who is rich and important,
The moment he entered the room, everyone knew he is some kind of a big shot.
3. fair shot – an opportunity, a chance,
Each kid should have a fair shot when it comes to access to education.

Incorrect spelling, explanation: the base form of the verb shot is to shoot, which is and irregular verb, and its past simple and past participle form is shot. Nevertheless, a number of English speakers tend to forget about that and they treat this verb as a regular one, which results in the form shooted, which is incorrect.