握 is used in: 握手 (to shake hands), 把握 (to grasp/be confident), 掌握 (to master/grasp), 握住 (to hold onto). 掌握 is especially common - 'to master' a skill or language.
Left hand radical - the side-form of 手. Anchors 握 in physical grip: to grasp, hold, shake hands. Same radical in 抓 (grab), 拿 (take), 推 (push), 抱 (hug). The semantic load is fully carried here; the right side is purely phonetic.
Right 屋 supplies the sound - wū drifted to wò with tone shift. Same phonetic in 渥 (wò, rich) and 龌 (wò, dirty). The "house" meaning has no semantic role here; it is a pure sound carrier chosen for the wo- rhyme.
