Yep it could be the homepage address for a website or blog you own. You must be able to access your sites HTML code for google to approve you for adsense. If you have blogs try submitting your best one - the one which is the oldest/has most pages etc this will make it most likely to be accepted.After you apply they can take a week or two to reply and they may then ask you to insert a code snippet they provide to prove you own the site (have access to the sites html code).This isn't difficult but your web host wil prob do this step for you if you send them an email detailing googles request.
Otherwise you can be approved for adsense by submitting the URL from your hubpagesprofile page but you would probably need to have published several hubs and been on hubpages for a few months to be successfull this way from what i gather. I used the personal website way myself so can't be sure.
The good news is once you're accepted you can use adsense wherever you choose - you only need to get approval for your first site and will never have to apply again.Good Luck Creative Sonu.