Odysseus first outwits Polyphemus by telling him his name was 'Nobody'. So that after being blinded by Odyseeus and his men while asleep, Polyphemus cried in pain to the other cyclops: 'Nobody blinded me!' - which made them think he has gone mad. This distraction made Odysseus and his remaining crew escape possible, but not before rashly revealing his name. After learning it, Polyphemus prays to Poseidon (his father) for Odysseus' downfall.
This did not cause their ship to wreck yet, but kicked off a sequence of disastrous events that caused his entire crew but him, to fall.