妄 is built from the 亡 and 女 components.
It reads モウ like 亡, as do 望, 忙, 盲, and 忘 — learn 亡 once and the family's reading comes with it.
A common word using 妄 is 妄信 (もうしん), meaning “blind acceptance; blind belief”.
Kanji that look similar include 忙, 忘, and 盲.