Software fault localization is one of the most tedious and costly activities in program debugging in the endeavor to identify faults locations in a software program. In this paper, the studies that used spectrum-based fault localization (SBFL) techniques that makes use of different multiple fault localization debugging methods such as one-bug-at-a-time (OBA) debugging, parallel debugging, and simultaneous debugging in localizing multiple faults are classified and critically analyzed in order to extensively discuss the current research trends, issues, and challenges in this field of study. The outcome strongly shows that there is a high utilization of OBA debugging method, poor fault isolation accuracy, and dominant use of artificial faults that limit the existing techniques applicability in the software industry.