So what's all this rubbish about multiple 12 volt rails?
If you've paid much attention to current (2006) power supplies then you've probably noticed that most of them have more than one 12 volt rail. A conventional dual rail ATX12V power supply has two 12 volt rails: 12V1 and 12V2. According to the ATX standard, 12V2 is the 12 volt rail which powers the CPU and is provided by the 4 pin 12 volt cable. 12V1 is the 12 volt rail used in all other power supply cables and powers everything but the CPU. A few motherboards don't follow the ATX standard on what is powered by 12V1 and 12V2. EPS power supplies can have as many as four 12 volt rails and have many combinations of which rails powers which devices.
If a PSU needs more 5 volt power then they just build a higher-capacity rail which can supply more current. So why do you see power supplies with two, three, or even four 12 volt rails? Why not just have one bigger 12 volt rail which can supply more power? Well, that's going to take some explanation.
I used to design embedded electronics which are small computers which control various kinds of machines. I still build hobby projects from time to time so I have loads of power supplies laying around. Of course, most of those are "real" power supplies - not PC power supplies. Okay, technically PC power supplies are actually real but since they come with such incomplete specifications it's hard to know what they can really do. Real power supplies tell you exactly what the PSU can do: input voltage range, minimum and maximum current, load regulation, output ripple, temperature derating curves, over voltage and current limits. You name it, they spec it. And when they say 12 volts at 40 amps at 50C, they're not kidding. At least as long as you avoid crappy ones. If the PSU has multiple outputs then they explain all the dependencies between them. So if you need to increase one rail to 10 amps to get 20 amps out of another rail, they always tell you in the specs. They tell you if there's a total wattage limit among combinations of rails. If it's a really nice PSU, there are no dependencies. They just operate as independent rails. The specs are very thorough because you need to know these things to select the right PSU.
And then, there are PC power supplies. Most PC power supplies, even many good ones, would be more truthful if they stopped refering to "specifications" and used the term "marketing hokum". I'm not going to delve into that subject here because it would involves pages and pages of cussing. And if you're looking for a PC PSU which doesn't have dependencies between it's rails, keep dreaming. They've got dependencies. They just rarely tell you what they are. If you get a good PSU then it may actually meet the vague and incomplete specifications on the label. If you get a bad PSU then the wattage ratings on the label can best be described as a work of fiction. PC power supplies actually do have real specifications. They just don't publish them. So when you buy a PC PSU, it's hard to know what you've really got.
Multiple current limited 12 volt rails derived from single rail PSU
This kind of PSU only has one set of circuitry inside the PSU which generates 12 volts. But it is split into separate 12 volt outputs each of which have their own current limit circuitry. If any one of the 12 volt outputs exceeds its current limit then the PSU shuts down. For example you could have a dual rail supply which has a single internal 12 volt rail which can deliver 30 amps. Then inside the PSU it's split into two separate rails each of which has a 20 amp limit. If you try to draw more than 20 amps from either of the 12 volt rails then the PSU with shut down. If you try to draw more than 30 amps of total current from both of the rails then it will also shut down (assuming that the internal 12 volt rail also has a current limiter).