Well, when I searched on online dictionaries, I got something along the lines of "Good judgment (often from knowledge and experience in life)"
Ringbearers:
Círdan is a bit of a problem. How much of the wisdom is his own and how much is Ulmo's?
But my guess is, that over time, Círdan not only gained wisdom through experience, but through Ulmo he could see what the right thing to do was. Maybe like having a good role model or being shown the right course of action (though I guess it is debatable how wise the Ulmo is, or indeed any of the Valar. But I do seem to recall that Ulmo has the most "foresight" of all the Valar). And I'm sure he trusted Ulmo (after all, he agreed to stay in Middle-Earth for the lifetimes of many men). Then again, like Ulmo, Círdan trusted the Númenóreans, and look where that led to.
But even without Ulmo, living (possibly) as long as the entire history of the elves must have some good effects.
But anyway, I think (or at least hope) that all the other decisions were his, in which case, he is definately in the "Top 3" wisest, and arguably in "Ye Numbere One Spotte"
Galadriel, on the other hand, has been to Valinor, so I'd guess she'd have more wisdom than someone her age in Middle-Earth. But maybe not. She is proud and rash and goes against the Valar and refuses their pardon. But by the end of the Third Age she has calmed down, and at that time she at least seems wise. HEr husband is Celeborn the Wise, but it seems to me that the real wisdom comes from Galadriel.
Elrond is much younger than those two, but he seems to posess a lot of wisdom still. Well, you all probably know his story. As a side note, he is also connected to Círdan.
Also, Gil-Galad bears consideration.
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