A number of superhero names have complicated backstories. The Green Lantern, for example, was originally Alan Scott, and his ring worked against anything except for wood. Later the ring would pass to Hal Jordan, and be less magical but more science fiction, and work against anything except the color yellow. That weakness would be eliminated later on, but to start, you could stop the Green Lantern with either a stick or a primary color depending on which one it was.
That’s nothing compared to the Blue Beetle.