Real Dictionary

steep
adjective: A steep slope rises at a very sharp angle and is difficult to go up.

steep in American English 1
having a sharp rise or highly inclined slope; precipitous
adjective: having an almost vertical slope or pitch, or a relatively high gradient, as a hill, an ascent, stairs, etc
noun: a steep place; declivity, as of a hill

steep in American English 2
to soak in liquid, so as to soften, clean, extract the essence of, etc.
intransitive verb: to lie soaking in a liquid
noun: the act or process of steeping or the state of being steeped
transitive verb: to soak in water or other liquid, as to soften, cleanse, or extract some constituent

steep in British English 1
adjective: having or being a slope or gradient approaching the perpendicular

steep in British English 2
noun: an instance or the process of steeping or the condition of being steeped
verb: to soak or be soaked in a liquid in order to soften, cleanse, extract an element, etc