Thanks to Fritz Schober for the awesome pic

In this section, I will list all the normal limit breaks, plus where to find the level 4 limit breaks. Also, I will include info on getting limit breaks to level up. The info on levling up limit breaks comes from the faq by K. Megura, which you can also find on my page.

Leveling Up Limit Breaks

As you may already know, all characters start off with their first limit break already learned. This is a level 1 limit break, and there are 4 levels in all. Most characters have 2 limit breaks per level (Except for the 4th level), and I am going to say how to get all of them. First off, in order to get the second limit break for the first level, you must use the limit break you have (In that level) 8-10 times. So for example: Cloud would have to use his Braver limit break about 8-10 times until he gets his cross slash. You don't have to kill the enemy, just use the limit break. The amount you need to use each limit break decreases as the levels go up, so for instance, if you have a 2nd level limit break for Cloud, the Blade Beam, then you would have to use it roughly 6-8 times to get the limit break Climhazzard. In order to advance to the next level of the limit break, (ie: Level 1 to 2) the character must kill about 40 enemies. Now another character can damage the enemy, so long as the person who needs to level up delivers the finishing blow. So the wrap up is shown below:

LEVEL 1:
First limit break : Already learned
Second limit break: Use the first limit break 8-10 times

LEVEL 2:
First limit break: Earned by killing 40 enemies
Second limit break: Use first limit break 6-8 times

LEVEL 3:
First limit break: Earned by killing 40 enemies
Second limit break: Use first limit break 4-6 times

LEVEL 4:
Limit break: Earned by using Limit Break Item for that character. The item can only be used when all of that character's limit breaks have been learned.

Limit Break Listings
[Cloud, Barret, Aeris, Tifa, Cid, RedXIII, Cait, Yuffie, Vincent]

CLOUD

LEVEL 1:
First: Braver- Cloud performs a leaping slash and usually will kill a normal enemy
Second: Cross-Slash- Cloud performs a series of slashes, which does less damage than Braver, but can sometimes paralyze and enemy

LEVEL 2:
First: Blade Beam- Cloud striks one enemy with a wave of energy, the wave then spits into smaller waves, which hits the remaining enemies. The smaller wave does about 1/3 of the damage as the bigger wave
Second: Climhazzard- Cloud digs his sword deep into the enemy, then leaps upwards, causing lots of damage, this is very efficient, but only hits one enemy.

LEVEL 3:
First: Meteorain- Cloud leaps into the air and lets loose several meteors which hits for 4 seperate times. The damage will accumulate and will most likely do in any enemy. Best used against one foe, but can also be used against weak groups.
Second: Finishing Touch- Cloud swings his sword over his head, causing a whirlwind that sweeps away most enemies, excluding bosses and the like. If they don't die immediatly, the fall back to the ground can cause extensive damage.

LEVEL 4:
OMNISLASH- This is Cloud's ultimate limit break. Hitting for 15 times, it can cause a great amount of damage to several foes, or a single enemy. This is obtained at the gold saucer in the battle arena for 32,000 battle points.  
This is also used against Sephiroth at the last battle regardless of whether you have it or not.


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BARRET

LEVEL 1:
First: Big Shot- Barret first collects a large amount of energy in his gun, and then releases it against an enemy. This is only helpful in the beginning of the game when the enemies are weak
Second: Mindblow- Barret collects a large amount of blue energy, then releases it against an enemy. This does not do normal damage, but instead drains the target's MP.

LEVEL 2:
First: Grenade Bomb- Barret unleases a large amount of explosives against a group of enemies. This causes a fair amount of damage to everyone.
Second: Hammerblow- Barret sends one chosen foe soaring into space. This immediatly kills the enemy, excluding all bosses and some big enemies.

LEVEL 3:
First: Satellite Beam- Barret calls for an attack from the skies for this limit break. Stronger than the Grenade bomb, this is very helpful against a group, but not so much against a single enemy
Second: Ungarmax- Barret unloads a large amount of ammunition into a group of enemies, or a single enemy. Sometimes this limit break can be more helpful than the satellite beam in the fact that it hits more times.

LEVEL 4:
CATASTROPHE- Barret's ultimate limit break is just that. ULTIMATE. It hits for a large amount of damage to all enemies, and will more likely than not come in handy. This can be achieved in north corel, in the middle hut on the west side of town. She will give Barret the Catastrophe item.


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AERIS

LEVEL 1:
First: Healing Wind- Aeris will call upon some holy winds to heal your party with stronger effects of Cure1
Second: Seal Evil- This will paralyze the enemy, as well as silence them if possible

LEVEL 2:
First: Breath of the Earth- Heals your entire party of any negative status ailments (poison, sleep, petrify, etc...)
Second: Fury Brand- Aeris will fill up everyone's limit bars, but it will deplete her of her own.

LEVEL 3:
First: Planet Protector- Makes your party invulnerable for a short amount of time.
Second: Pulse of Life- Gives your entire party full recovery, same effect as a megalixer

LEVEL 4:
GREAT GOSPEL- Some heavenly angels will come, blessing your party with a full recovery, as well as invulnerability. Recieved when the mithril (gotten from the sleeping man near the chocobo ranch when the last two digits of the # of enemies that you fought matches) is given to the solitary weapons maker. He will give you a choice of opening one of two chests. Pick the small one by the bed, and you will get the Great Gospel.


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TIFA: All of her limit breaks are chained, combining to form a nice 7 hit limit combo. You still have to set the limit breaks to the different levels as you gain them however.

LEVEL 1:
First: Beat Rush- Tifa performs a quick combo against a single enemy for her first hit in the combo
Second: Somersault- Placing her foot on the enemy, Tifa kicks off in somersault fashion for her second hit

LEVEL 2:
First: Waterkick- Tifa does a quick sweeping kick with what seems to be a wave of water (It isn't elemental as far as I know)
Second: Meteodrive- Tifa grabs the enemy (hmm..) and performs a quick backdrop to tack on her fourth hit

LEVEL 3:
First: Dolphin Blow- Tifa calls upon her little dolphin friend who delivers a fast hit for her fifth hit in the series.
Second: Meteor Strike- Grabbing her enemy once again.... Tifa takes the foe high into the air and chucks him to the ground for hit nmber six

LEVEL 4:
FINAL HEAVEN- Tifa's final limit break can be obtained by playing the piano in her house in Nibelheim. The correct sequence to play the piano goes as follows:

X - Square - Triangle - R1(L1)+Triangle - R1(L1)+Square - X - Square - Triangle - R1(L1)+X - Circle - X - Square - X or:

Do-Re-Mi-Ti-La   Do-Re-Mi-So-Fa-Do-Re-Do

The limit break itself goes as follows:
Tifa attacks with all the other limit breaks as usual (If you don't miss any) then hit a single enemy with her fist which has been charged with the power of an atomic explosion.


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CID:

LEVEL 1:
First: Boost Jump- Jumping into the air, Cid comes down on one enemy for a medium amount of damage. This is only REAL useful in the beginning of the game.
Second: Dynamite- Producing a stick of dynamite, Cid lights it with his cigarette and chucks it into the group of enemies. This causes a fair amount of damage to all enemies and will normally be more useful than the Boost Jump.

LEVEL 2:
First: Hyper Jump- Jumping into the air in the same manner as the Boost Jump, Cid comes down on the enemies very hard, hitting everyone with a blue pulse of energy. This will come in handy most of the time because it causes alot of damage to all enemies.
Second: Dragon- Cid summons a blue dragon which hits for a large amount of damage, then gives Cid some HP and MP back. This HP and MP gain doesn't really help too much unless you have nothing else to replenish MP

LEVEL 3:
First: Dragon Dive- A very useful limit break in which Cid comes down on the enemies six times for a total of six hits. The hits do a fair amount of damage each, but against a single enemy, this is very harmful.
Second: Big Brawl- Cid shows off his fighting skills by attacking all enemies very fast, each attack is unrecognizable, but the damage is not. The damage will pile up against a single enemy or a group of enemies. Both this and the Dragon Dive come in useful.

LEVEL 4:
HIGHWIND- Cid calls for some air assistance from the airship for this limit break. The airship will drop a payload of bombs on all the enemies and the damage is cumulative. Very useful against one or more enemies. Found in the sunken shinra plane, next to the leaking helicopter.


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RED XIII

LEVEL 1:
First: Sled Fang- Gathering speed, Red will begin to run towards the enemy, and then quickly makes a dash through them, causing about double-triple his normal attack damage
Second: Lunatic High- This is very helpful because Red will cause haste to be cast on your entire party, which comes in handy when fighting bosses.

LEVEL 2:
First: Blood Fang- Same thing as the sled fang, but Red will gain a small amount of hp and mp after the damage has been caused.
Second: Stardust Ray- Very helpful because this causes alot of damage to the entire group of enemies, and is also cumulative.

LEVEL 3:
First: Howling Moon- Not a very useful limit break, but may come in handy in tight situations. Red will have berserk as well as haste casted on himself, and you will no longer be able to control his actions. (I personally perfer him to keep his controls so he can cast magic) The berserk will cause Red to deal more damage out per attack than normal, and the haste will help you out as well by causing him to attack more frequently
Second: Earth Rave-

LEVEL 4:
COSMO MEMORY- This is a very powerful attack, yet it does not deal cumulative damage, so it is a one shot deal, just like Yuffie's All Creation.Found in the safe in the shinra mansion, located in nibelheim.


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CAIT SITH(Yes, he only has two)

LEVEL 1:
First: Dice- Cait Sith throws several dice to the ground, the resulting rolls determine the amount of damage. (I haven't quite figured out the formula) This limit break grows over time, and Cait Sith will throw more and more dice as it levels up.

LEVEL 2:
First: Slots- There are 7 possible turnups for this limit break. (This is alot like Setzer's ability in FF3) They are as follows (A few of these are sometimes automatically determined regardless of timing):

3 Stars= Same effect as a megaelixer
3 Crowns= 6 tiny toy soldiers appear and attack all the enemies on screen
3 Bars= Cait Sith uses a random summon spell
3 Mogs= Cait Sith transforms into a larger version of himself. His HP increases to 9999 and his MP to 999. He can use all the normal abilities, but causes greater amounts of damage, and cannot use his limit breaks.  All your other teammates dissapear for the battle, only to reappear with 3333 hit points and 333 Magic points
3 Hearts= A girl appears and your party's hit percentage is upped to 100 %
2 Cait Siths+ 1 Bar= Death to your team. Cannot be prevented with saftey bit etc...
3 Cait Siths= Instant death to all enemies ( I think for bosses too, not sure)


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YUFFIE

LEVEL 1:
First: Greased Lightning- Yuffie gets up close to the enemy and slashes, delivering the first blow, then jumps back and throws her shuriken for the second. Does a fair amount of damage to one enemy, but will soon get obsolete when you get your first level 2 limit break.
Second: Clear Tranquil- Yuffie's only party-helping limit break, she replenishes some of her party's hp with a blue aura.

LEVEL 2:
First: Landscaper- Showing off some brutality, Yuffie slams her fist into ground causing the ground to rise where the enemy is. The ground then dissapears, causing a large amount of damage to all enemies. This is generally more useful than either of her level 1 limit breaks.
Second: Bloodfest- Yuffie delivers a quick series of ten blows to all enemies. The hits do a fair amount of damage each, but the damage will quickly build as the limit break goes on.

LEVEL 3:
First: Gauntlet- Causing a blue pillar to rise out of the ground, Yuffie deals major damage with this limit break. This does more damage than the landscaper, and will normally come in handy with large groups.
Second: Doom of the living- Her second last limit break (IMO, better than All Creation), Yuffie will hit all enemies 15 times total, the same amount as Cloud's Omnislash. The hits a generally weak, however, but still useful against one or more enemies

LEVEL 4:
ALL CREATION- Yuffie's final limit break is found in Wutai. This is obtained once she beats the 5 bosses in the tower in the back of the town. Once she defeats Godo, she will get the All Creation item.
All creation sounds very much like Ultima, but causes a huge amount of damage to all enemies. This damage is not cumulative, so it's a one shot deal.


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VINCENT- (Whenever Vincent undergoes most of his transformations, his HP will double and you will lose control of him.)

LEVEL 1:
First: Galian Beast- Vincent transforms into a wolf-like creature with two attacks:
Beserk Dance- He performs a combo against one enemy
Beast Flare- He launches several fire orbs at a group of enemies

LEVEL 2:
First: Death Gigas- Turns into a Frankenstein (actually his monster) type creature with also two attacks:
GigaDunk- Does a one-handed smash against an enemy
Livewire- Performs a Lighting bases attack against a group of enemies

LEVEL 3:
First: Hellmasker- Turns into a monster looking very similar to Jason from Friday The 13
th with a chainsaw:
Splattercombo- Vincent (clumsily) hits an enemy five times with his chainsaw, with the chance of immediate death
Nightmare- A single enemy gets hit with several status ailments

LEVEL 4:
CHAOS- This can be achieved from the cave west of the Gold Saucer. You must have the Gold Chocobo to get over the mountains, or use the submarine to go underwater and surface next to the cave. The cave is actually "Lucrecia's Cave" and you must have Vincent in your party to get this limit break. Vincent transforms into a demon with wings with two attacks:
Stan Slam- A large skull appears and instantly kills all enemies. Those that don't die are soon hit by a series of flaming skulls.
Chaos Saber- Alot like slash-all in the fact that he hits all enemies for a large amount of damage.
You can only get his limit break in the 3rd disk, but you can learn about his past by going to the cave in the second disk.

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