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If I am right it's pet name for Mikhail like Mischa

I looked it up for you and it means "beautiful sand."

Difficult to say because Japanese name meanings depend on the spelling they are written with. According to a site http://tinyurl.com/2q8x6y for Japanese girls' names, you can have various combinations of a mi and a sa from the following two lists. (I am sure ClaudiaS will soon reply with a more comprehensible reply, but I was just trying to write a program to parse the output from that site ...; It is a novelty for me and I will soon stop this childishness)

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三three
充fill, be full, supply
光light, brilliant, shine; only
史history, chronicle, annals
味taste, smell, odor; delicacy
子offspring, child; fruit, seed of; 1st terrestrial branch
実real, true; honest, sincere
峰peak, summit; hump of camel
巳the hours from 9 to 11; 6th terrestrial branch
弥extensive, full; fill; complete
彌extensive, full; fill; complete
径narrow path; diameter; direct
御drive, ride; chariot; manage
心heart; mind, intelligence; soul
扇fan; door panel
操conduct, run, control, manage
明bright, light, brilliant; clear
望to look at, look forward; to hope, expect
未not yet; 8th terrestrial branch
民people, subjects, citizens
水water, liquid, lot5on, juice
泉spring, fountain; wealth, money
海sea, ocean; maritime
深deep; depth; far; very, extreme
珠precious stone, gem, jewel, pearl
瑞felicitous omen; auspicious
瞳pupil of eye
碧jade; green, blue
美beautiful, pretty; pleasing
翠color green; kingfisher
聖holy, sacred; sage
見see, observe, behold; perceive
観see, observe, view; appearance
雅elegant, graceful, refined
顧look back; look at; look after

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佐assist, aid, second; subordinate
冴freezing; stopped up, closed off
刻carve, engrave; quarter hour
咲smile, laugh, giggle; snicker
唆make mischief, incite, instigate

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The meaning depends on the kanji (characters) the parents chose to write the name with. If you know one particular person named Misa you could find out what her name means, but it's not possible to generalize as Misa has dozens of potential "meanings." The first character (Mi) could mean beauty, three, heart, fruit, and more, and the second (Sa) could be bloom, early, gauze, cherry, and more.