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Whether you want to crank the last drops of gain out of your track or just want to control a few loud peaks, a Limiter can be the weapon of choice.
By looking a little bit into the future, a limiter can make sure your signal never goes louder than you want it to without distorting or destroying transients:
Limiter shines on it's own, but it was primarily created to power up the different "Snapin Hosts" Kilohearts offer. These are bigger effects units that utilize all the available snapins and give you a really fun and creative workflow for combining them in any way you can think of. So have a look at Snap Heap and Multipass right now.
Limiter is also available as a Rack Extension for Reason over at the Propellerhead shop.