In all three languages it tracks closely (and has associations with) the old guild system. A master was someone who had completed requisite work (and contributed a large sum of money to the guild), and was thereby granted full legal status within the guild and was then allowed to ply their craft as an independent operator (as opposed to a journeyman - someone who has completed their apprenticeship and must now work under other masters).
The term carries through to the University system, a pseudo-guild itself in Medieval society. It is now almost exclusively understood in that context. A master is someone who has performed a large piece of original work demonstrating mastery in the respective craft (e.g. in Academia: publishing a piece of original research which contributes to the discipline).
ETA: I added a bit about how master comes from Latin magister, composed of magis (more, greater), and -ter (an agentive suffix), cf. minister. Greek has some correspondences, that I don't care to look up right now; my original post got eated. Anyway, further searching on wiktionary revealed that one meaning of master in English was that for "a captain of a trading or navigational vessal", which may be the answer to your original query, however maître and Meister don't appear to carry this same possible meaning, as best I can tell. Also the exclusion of the word altogether in the Spanish, again, tells me that conveying this specific sense of the word is not especially essential to the translation.