Source : Webster's Revised Unabridged Dictionary (1913)

Slit \Slit\, obs.
   3d. pers. sing. pres. of {Slide}. --Chaucer.

Slit \Slit\, v. t. [imp. & p. p. {Slit} or {Slitted}; p. pr. &
   vb. n. {Slitting}.] [OE. slitten, fr. sliten, AS. st[=i]tan
   to tear; akin to D. slijten to wear out, G. schleissen to
   slit, split, OHG. sl[=i]zan to split, tear, wear out, Icel.
   st[=i]ta to break, tear, wear out, Sw. slita, Dan. slide. Cf.
   {Eclat}, {Slate}, n., {Slice}.]
   1. To cut lengthwise; to cut into long pieces or strips; as,
      to slit iron bars into nail rods; to slit leather into
      straps.

   2. To cut or make a long fissure in or upon; as, to slit the
      ear or the nose.

   3. To cut; to sever; to divide. [Obs.]

            And slits the thin-spun life.         --Milton.

Slit \Slit\, v. t. [imp. & p. p. {Slit} or {Slitted}; p. pr. &
   vb. n. {Slitting}.] [OE. slitten, fr. sliten, AS. st[=i]tan
   to tear; akin to D. slijten to wear out, G. schleissen to
   slit, split, OHG. sl[=i]zan to split, tear, wear out, Icel.
   st[=i]ta to break, tear, wear out, Sw. slita, Dan. slide. Cf.
   {Eclat}, {Slate}, n., {Slice}.]
   1. To cut lengthwise; to cut into long pieces or strips; as,
      to slit iron bars into nail rods; to slit leather into
      straps.

   2. To cut or make a long fissure in or upon; as, to slit the
      ear or the nose.

   3. To cut; to sever; to divide. [Obs.]

            And slits the thin-spun life.         --Milton.

Slit \Slit\, n. [AS. slite.]
   A long cut; a narrow opening; as, a slit in the ear.

   {Gill slit}. (Anat.) See {Gill opening}, under {Gill}.

Source : WordNet®

slit
     n 1: a long narrow opening
     2: obscene terms for female genitals [syn: {cunt}, {puss}, {pussy},
         {snatch}, {twat}]
     3: a depression scratched or carved into a surface [syn: {incision},
         {scratch}, {prick}, {dent}]
     4: a narrow fissure
     [also: {slitting}]

slit
     v 1: make a clean cut through; "slit her throat" [syn: {slice}]
     2: cut a slit into; "slit the throat of the victim"
     [also: {slitting}]