This is just from rumors I hear and web forums I read. I started hearing "kick ass and
take names" around the late 80's. Some say it's a police expression.
It probably means that cops or your group of fighters kick the ass of your opponents. Then you "take names" of the people
you beat. That way you know the name of a guy you beat. And when you meet
him again, you know you can beat him up again.
We
gotta go play basketball against that team of jerks,
the Eagles.
Oh Yeah! It's time for us to kick ass and take names!