Severities
error
used when bugs are found
warning
suggestions about defensive programming to prevent bugs
style
stylistic issues related to code cleanup (unused functions, redundant code, constness, and such)
performance
Suggestions for making the code faster. These suggestions are only based on common knowledge. It is not certain you'll get any measurable difference in speed by fixing these messages.
portability
portability warnings. 64-bit portability. code might work different on different compilers. etc.
information
Configuration problems. The recommendation is to only enable these during configuration.