Magic List

There are basically three types of magic: attack magic, curative magic, and indirect magic.  There are two forms of attack magic: elemental and status.  The way you use magic is a matter of personal choice, what srategies you have.  The way you junction magic affects your characters' strength, power and skills in general.  Click here for tips about junctioning.  Here is a list of magic spells, their effect and the extent of their damage (if applicable).

Attack Magic

ELEMENTAL
Aero - minor wind damage to one enemy
Blizzard - minor ice damage to one enemy
Blizzara - medium ice damage to one enemy
Blizzaga - major ice damage to one enemy
Demi - removes a quarter of the enemy's HP
Fire - minor fire damage to one enemy
Fira - medium fire damage to one enemy
Firaga - major fire damage to one enemy
Flare - extreme fire damage to one enemy
Holy - major holy damage to one enemy
Meteor - major damage to all enemies, about 10 hits of varying damage with random targets
Quake - medium earth damage to all enemies (will not affect if character is Floating)
Thunder - minor thunder damage to one enemy
Thundara - medium thunder damage to one enemy
Thundaga - major thunder damage to one enemy
Tornado - medium wind damage to all enemies
Water - minor water damage to one enemy
Ultima - extreme damage (some 2 or 3 thousand HP) to all enemies

STATUS
Berserk - loss of control, physical attacks only possible
Bio - poison and physical damage (if the enemy attacks you, it will receive damage, ie: it's HP will decrease; this magic can be junctioned to EL-ATK and EL-DEF and not to ST-ATK and ST-DEF)
Blind - make blind (physicals attacks will miss more often)
Confuse - makes enemy confused, ie: attacks allies and enemies (physical attacks end confusion)
Death - kill one enemy
Drain - take HP from an enemy and use it to heal yourself
Meltdown - enemy's Vit stat is reduced to 0, enemy also incurs physical damage (this magic cannot be junctioned to EL stats or ST stats)
Pain - poison, silence and blind
Petrify - turn enemy to stone (however, you receive no EXP.  Once all enemies are turned to stone, you win.  If all your party is turned to stone, Game Over)
Silence - make enemy unable to use magic (makes members of your party unable to use magic, draw magic or summon GF)
Sleep - makes enemy fall asleep (awakened by physical attacks, or after a period of time)

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Final Fantasy VI
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Final Fantasy VIII
Characters
Guardian Forces
Upgrading Weapons
Refining Items
Rare Items (for upgrading weapons)
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Magic List
Item List
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Final Fantasy IX
Rumours

Curative Magic

Cure - restores a few hundred of HP
Cura - restores about 1000 HP
Curaga - restores a few thousand HP
Esuna - cures all status abnormalities
Full-Life - revives one person, giving him/her 9999HP
Life - revives one person, giving him/her a percentage of their maximum HP
Regen - restores a percentage of maximum HP at regular intervals

Indirect Magic

Aura - use Limit Breaks more often, even if HP is high
Dispel - stops effect of Reflect, Protect, Shell, Double, Triple
Double - gives ability to cast two spells in one round
Float - character floats; serves as protection from earth magic such as Quake
Haste - speeds up ATB gauge
Protect - cuts physical damage by half (50%)
Reflect - magic bounces off onto the enemy (does not work on magic that affects the whole party)
Shell - cuts magic damage by half (50%)
Slow - slows down ATB gauge
Stop - ATB gauge stops for a period of time
Triple - gives ability to cast three spells in one round

Other Magic Spells

There are some magic spells in Final Fantasy VIII that only enemies can use, and one spell which you can only draw and cast in the final battle.
Apocalypse - draw in the final battle; causes extreme damage
Gravija - removes 75% of the HP of each member of your party
Maelstrom - removes 75% of the HP of each member of your party, also causes Curse