10) Katia
The protagonist of the first Lost Kingdoms. As far as her appearance goes she is a very fetching young lady. As far as her powers go, she has runestone in which allows her to use mystical cards that can summon creatures of varying sizes and power. Her significance in the story is that she is a young lady who must save the land from a great evil which is causing untold horror across the land.
9) Kat
ah, Gravity Rush...what a fun game. Our heroine is very eye-appealing and her powers over gravity were a lot more than what I originally gave credit for such as being able to shift gravity to cling to vertical surfaces, gravity powered kicks, shooting balls of gravity(?), some kind of gravity rush attack (hehe), creating a mini-blackhole, and being able to skate on any surface with her gravity based powers. As an overall character though she's every bit as shallow as Katia but it could be worse.
8) Pram
I had encountered Pram in Disgaea 3: Absence of Detention, but she's originally from Makai Kingdom. That being said she kicks ass. As far as her appearance goes, she looks more cool than cute or sexy. Her powers...most of her unique attacks are ice-based and in some of her special moves in other games she seems to display an impressive level of physical strength. To attest to how powerful she is, she completely destroyed an entire Netherworld and forced the legendary overlord Zetta to assume the form a magical tomb in order to survive. Her significance in D3 is simply one as an awesome unlockable character who is search of Overlord Zetta.
7) Micaiah
From the only Fire Emblem game I've ever played comes the adorable light priestess Micaiah. Unfortunately her abilities in battle is more limited compared to Pram and Kat, but she can utilize Light-based attacks as a means of either blinding her foes or blasting them altogether. Her role and development is far superior to that of the earlier entries.
6) Litchi Faye-Ling
...excuse me for moment...ok. Appearance...I don't need to say anything. As for her powers and abilities, she's a capable martial artist and she has a panda on her head that enhances her physical strength and control her bo staff with her mind (ranging from using it as boomerang to contorting it to act as fighting partner. As with all characters in BlazBlue, she gets her own story in which she is on a quest to find and cure her lover, Arakune.
5) Tifa Lockhart
...Fuck, excuse me for another moment. Okay. Tifa is damn sexy, how much more do I need to say. She is capable fighter with her superhumanly strength and hand-to-hand combatant along with using materia to assist her. Those tits...I swear she could kill someone with them.
4) Chun-li
She might not be as sexy as Tifa or Litchi, but in my book she is an overall more capable fighter. Her story though, hard to say, I've only played one Street Fighter game.
3) Morrigan Aensland
....sorry, be right back...again. Sexiest Darkstalkers character...nuff said about that. Her powers and abilities include flight, some level of transformation, turning her wings into tendrils for more effective fighting, and massive killer boobs...hey we all know it's true.
2) Aqua
As with Chun-li, she's not quite as sexy as some of the other females on this list but she's a character that I more sympathize with as opposed to being just eye-candy. She's a capable swordswoman and her magical prowess has helped her mow down unversed and heartless with great ease.
1) Samus Aran
How could I not have Samus on this list. She is fucking hot without her powersuit. She's a capable hand-to-hand combatant with superhumanly strength due to having Chozo DNA, and her special Chozo powersuit makes her a force to reckon with.