Power steering: Steering assistance system that reduces the amount of strength needed to turn the steering wheel.
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The assistance can be either hydraulic or electric. In the first type, there is a hydraulic pump that pumps oil and this oil acts on the steering box. In the second type, the assistance is performed by an electrical engine attached directly to the steering column.
You likely have a leak, find the location of your power steering pump and follow the hoses and look for any leaks it's gotta go somewhere. If it's leaking from the pump you may need a new pump if it's leaking from a hose or the reservoir it's self you replace that, if you can't tell where wash it off with some dawn and turn the wheels back and forth and look for new leaks