Olvido translates to "forgetfulness" or "oblivion." It's a profound word that goes beyond simply "to forget" (olvidar), referring to the state or act of forgetting itself.
In the song, the artist desperately wishes for el olvido to arrive quickly, hoping to find relief from the pain of a past love. It captures the deep longing for emotional release and the struggle to move on, making it a central theme and a powerful word choice for the song's title.
Esteban Gabriel's "Olvido" is a really honest look at regret and the struggle to move on after messing things up in a relationship. Our singer is still completely hung up on his ex, constantly thinking about her ("Sigo pensando en ti, mi amor" [I keep thinking about you, my love]). He's looking at old photos, realizing he's not in them anymore, and it hurts to see her with someone else ("Duele mirarte con otro" [It hurts to see you with another]).
He totally owns up to his mistakes, admitting he disrespected her and didn't think about the consequences. Now, he's drowning his sorrows in alcohol, trying to forget her, but it's not working – the addiction is just taking over more and more ("Con una porción diaria de alcohol / Trato de olvidarte y no puedo / El vicio se apodera más de mí" [With a daily portion of alcohol / I try to forget you and I can't / The vice takes over me more]). He desperately hopes that 'oblivion' (forgetting her) comes soon, even though remembering her face is his only light in the darkness. It's a pretty raw and relatable take on heartbreak and self-blame.