Incorrect spelling, explanation: the correct form originates from Latin and there is no double consonant b there, therefore habit I the only correct spelling and habbit is incorrect.

Correct spelling, explanation: the reason for this spelling is the Latin word habitus (meaning custom) which is the origin of habit. There is no double b in this core form, so habbit is the wrong spelling.

Definition of habit:
1. noun, something one does repetitively, as a custom
She had a bad habit of gossiping.
My everyday habit is jogging in the morning.
2. noun, long piece of clothing worn by monks or religious groups.
I’ve never seen this colour of habit before, is she a nun?

Idioms and phrases with habit:
→ to kick the habit, to stop with the bad habit: She will never kick this habit, she hasn’t got her will strong enough.
→ to get into the habit of doing something, to start a new habit: I would like to get into the habit of getting up early – my days would be so much better!