Herbert Goldberg has an interesting article up about compressors and the though process behind designing their inner workings. That fits nicely into this month’s theme, don’t you think?
Technically speaking the same principles are used in audio signal limiting and compression processors but just the transfer curves and envelope follower settings are different. Ultra fast attack rates and high ratio amounts are used for limiting purposes which causes just very few peaks to pass on a certain threshold.
In digital implementations limiting processors can be more strict due to look-ahead and clever gain prediction functions which guarantees that no peak information passes the threshold. That is called brickwall limiting then.