The Collaborative International Dictionary of English v.0.48:

Slit \Slit\, obs.
   3d. pers. sing. pres. of Slide. --Chaucer.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Slit \Slit\, v. t. [imp. & p. p. Slit or Slitted; p. pr. &
   vb. n. Slitting.] [OE. slitten, fr. sliten, AS. st[imac]tan
   to tear; akin to D. slijten to wear out, G. schleissen to
   slit, split, OHG. sl[imac]zan to split, tear, wear out, Icel.
   st[imac]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.
      [1913 Webster]

   2. To cut or make a long fissure in or upon; as, to slit the
      ear or the nose.
      [1913 Webster]

   3. To cut; to sever; to divide. [Obs.]
      [1913 Webster]

            And slits the thin-spun life.         --Milton.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Slit \Slit\, n. [AS. slite.]
   A long cut; a narrow opening; as, a slit in the ear.
   [1913 Webster]

   Gill slit. (Anat.) See Gill opening, under Gill.
      [1913 Webster]

WordNet (r) 3.0 (2006):

slit
    n 1: a long narrow opening
    2: obscene terms for female genitals [syn: cunt, puss,
       pussy, slit, snatch, twat]
    3: a depression scratched or carved into a surface [syn:
       incision, scratch, prick, slit, dent]
    4: a narrow fissure
    v 1: make a clean cut through; "slit her throat" [syn: slit,
         slice]
    2: cut a slit into; "slit the throat of the victim"