The transom looks like it gets a good deal of abuse with the boarding ladder and outboard right there. The extent of the cracks, as dlochner says, makes it look like surgery may be necessary. I would be suspicious that perhaps something hit the stern and pushed it in to make it crack like that, but we don’t know. The thing to do is to explore the crack and open it up to see what’s going on in there. It could just be a crack in the gelcoat, as dlochner says, and simply need filling with epoxygoop with a gelcoat cap to match the color.
If it goes in beyond that, into the laminate, there will be more to do, and that depends upon how the transom was built. If the transom isn’t cored, the crack, if it’s in the laminate, will need to be exposed along its whole length ( a disc sander is useful for this) and new fiberglass cloth and possibly roving will need to be resined over it to make the repair. Gelcoat can go over it when it has set and been sanded smooth. If there is any coring (we don’t know how this transom is built- there may be plywood or balsa coring, or there may not be any) exposed by the crack, it has probably gotten wet and may be delaminated or rotted. The fixes for this depend a lot on how bad it is. If it is really bad, with rotten core leaving an empty space instead of connecting the inner and outer laminates, it will need to be replaced. This means opening up the whole affected area back to solid core and re-doing it. If the core is simply damp, but not delaminated, people sometimes drill holes to help dry things out with fans and heat and then inject epoxygoop into the holes to hopefully stick it back together and keep it from getting worse. (It’s not the best but may be quick and sufficient.) Essentially, you need to take a look and find out. Good luck!