Tailed Beast

In the Naruto universe, there are nine demons called the that inhabit the planet. The organization Akatsuki, has a plan that involves the capture of the Tailed Beasts.

History
It seems that the Tailed Beasts were around before the First Great Ninja War. Hashirama Senju, the First Hokage, managed to capture and control them with his Mokuton techniques, and used them as gifts to the other great nations. After his death however, shinobi nations couldn't control these demons themselves and thus they were allowed to run wild. Their attempts to capture them and harness their immense chakra failed as no nation could control such power. Instead, the nations moved to capture the beasts and seal them in a human, a. This method worked and by the time period of the series, the only known Tailed Beast to have not been sealed into a human was the Three-Tails.

One-Tailed Shukaku
The One-Tailed Shukaku was one of the Tailed Beasts that inhabited the Land of Wind prior to the start of the series. Its only known host was Gaara, but was later captured and sealed by the Akatsuki.
 * Name:
 * Creature Type: Tanuki (Racoon-dog, native only to Japan and other Asian countries)
 * Host: None, formerly Gaara and previously two unknown Sunagakure citizens.
 * Unique traits: Ability to spit concentrated balls of wind mixed with chakra
 * Status: Captured, extracted, and sealed by the Akatsuki

Eight-Tails
The Eight-Tailed Beast is currently one of the two remaining Tailed Beasts that was not extracted by Akatsuki, while the other one being the Nine-Tailed Demon Fox. Due to Akatsuki's depleted numbers, Madara Uchiha ordered Team Hawk to capture the Eight-Tailed Beast. In return, Madara Uchiha will allow Team Hawk to use a Tailed Beast to Destroy the Leaf Village.
 * Name:
 * Host: Unknown
 * Status: Active

Nine-Tailed Demon Fox
The Nine-Tailed Demon Fox is the most powerful of all the Tailed Beasts; a single swipe of one of its nine tails can raise tsunamis and flatten mountains. It is an age-old natural disaster which can appear out of nowhere and goes into areas where human malice collects and festers. After the demon fox attacked Konohagakure, Minato Namikaze, the Fourth Hokage, sealed it into his newborn son, Naruto, by using the Dead Demon Consuming Seal, sacrificing his own life to do so. It is said however that Madara Uchiha had the power to control the demon fox, and it was believed that Madara, or any Uchiha as far as Konoha's council was concerned, was the one behind the attack on Konohagakure. When consumed with strong emotion or physical damage to Naruto's body, the demon fox's traits appear within him, and he eventually completely loses control of himself.
 * Name:
 * Creature type: Kitsune (Magical many tailed fox)
 * Host: Naruto Uzumaki
 * Unique Traits: Near-limitless chakra, massive strength
 * Status: Active, sealed in host.

Legend of the Tailed Beasts
According to some fans, the "Legend of the Tailed Beasts" is an epic story from Japanese folklore which Naruto author Masashi Kishimoto draws from to create the tailed beasts in his work. However it is an example of internet-based fakelore which originated on Chinese websites, some suspect this chinese site.

The veracity of the legend breaks when it is cross-referenced with non-fandom sources on Japanese folklore. For example, the isonade, which is held to be the three-tailed beast in this account, is in fact equipped with only one large, hook-covered tail, and the "houkou" which is actually a Chinese creature called penghou, named as the five-tailed beast, has no tail at all. The badger was said to be the lord of all these beasts in the original legend, and Naruto fans have claimed certain Bijuu to be a badger instead of it's true form which was a tanuki for Ichibi no Shukaku and a bat for Shichibi no Makumore)

Additionally the author of the story admitted it was not a true legend, unfortunately it has gone largely unnoticed by most fans of the story.