In oceanography, rogue waves are more precisely defined as waves whose height is more than twice the significant wave height, which is itself defined as the mean of the largest third of waves in a wave record. Therefore, rogue waves are not necessarily the biggest waves found on the water; they are, rather, unusually large waves for a given sea state. Rogue waves seem not to have a single distinct cause, but occur where physical factors such as high winds and strong currents cause waves to merge to create a single exceptionally large wave.
Few pictures of Freak waves. They are scary, no doubt: