Brake pads or shoes are completely worn through the friction material
The lining of brake pads and shoes contain a material that, when applied, uses friction to stop the wheels. This material can wear our during normal usage. If it is not replaced, it can be completely worn out. When this happens, there may be sounds that come from the brakes when they are applied.
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Braking, by its nature, requires a non-moving surface to be applied to a moving surface in order to stop. This force can diminish the surfaces overtime.
Brake linings typically squeak when the friction material has worn to a certain point. This is to indicate to the driver that the pads or shoes need to be replaced. If driving continues on squeaky brakes, the friction material can be completely worn away.
Always slamming on the brakes in order to stop can cause the brake lining to wear out faster. The brakes should be used to gradually bring the vehicle to a stop, rather than a panicked stop at the last possible moment.