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The correct choice for creating and associating breakdowns on the breakdown source form involves selecting the 'New' button on the 'Breakdowns' related list. This action actively opens a form where one can enter the relevant details for the new breakdown, facilitating the organization of data into specific categories that can enhance analysis.

Utilizing the 'New' button ensures that the breakdown is properly linked to the correct source, allowing users to manage and navigate through data more effectively. The 'Breakdowns' related list specifically serves the function of directly managing breakdowns tied to a source, making this method straightforward and intuitive.

Other options, while they may seem relevant, either reference actions that do not directly involve creating breakdowns or imply a process that does not accurately reflect how breakdowns are organized within the platform analytics framework. The focus on using the 'New' button emphasizes the straightforward approach needed to create new breakdowns efficiently.