Although not fully convinced, the most interesting is Cabwood's post. Mathematical Convenience
LOL! Not entirely convinced! Interesting!
For a simple low-pass RC network, the cut-off frequency is 1/(2.Pi.R.C). The voltage gain for a simple sinusoidal input at that frequency is
Vout/Vin = 1 / Sqrt(2) = 0.707 = 71%
The power gain is the square of this (power is proportional to square of voltage):
Pout/Pin = 1 / 2 = one half. Very convenient.
Expressed as decibels:
10 log (1/2) = -3.01dB
Not exactly 3, as I said. But conventionally engineers have decided that it's close enough to 3 to be able to call the cut-off frequency the '3dB point'. It could be argued that '10 log(Pout / Pin)' stinks of arbitraryness, but Mr. Bell found that log-base-ten simplified the maths quite a lot where power (not amplitude) is concerned, and engineers subsequently noticed that multiplying the logarithm of gain by 10 made 10dB equal to a power gain of 10. All for convenience. If Mr. Bell had settled upon the natural logarithm as the way to go, then the numbers would be a nightmare.
I can imagine the meeting: 'Hey, 3 is nice round number, and half is a fantastically convenient gain, AND it happens to be roughly the frequency which is the inverse of the time constant of the system. Let's use it to define where a system stops or starts passing signals, and we can call it the 3dB point. Waddya reckon?" Surely it must have gone down to a vote.
It didn't escape these guys that if you created a second order filter by cascading two identical first order RC filters, at frequency 1/(2.Pi.R.C) the response would be -6dB (1/4), which wasn't so convenient. They still wanted to define the 'half power gain' point of their systems, and so Butterworth and Chebyshev and all the other second order filter folk, for convenience, worked out the frequency where their own designs had a power gain of a half (the 3dB point), and used those instead of the 6dB points to define the passbands of their designs. Just for consistency, you understand.
For 3rd order filters, which increased attentuation to 9dB at that f=1/(2.Pi.T) frequency, they did the same. "Let's not use the 9dB point to sell our designs", they said. "Stick with the conventional 3dBs" was their choice.
So, to eat my words, 3dB was chosen to describe higher-than-one order active designs, but only because nature had a convenient "nearly 3" response in it's own passive systems.