Fracture and wear resistant cutting elements are provided. Examples include a cutting element formed of a wear resistant material having a binder composition and a coarse grain size such that the portion of the cutting element formed of the wear resistant material has a fracture toughness of at least about 18 ksi(in).sup.0.5 and a wear number of at least about 1.8. In a particular example, the wear resistant material has a fracture toughness of at least about 20 ksi(in).sup.0.5. A down hole cutting tool incorporating such cutting elements is also provided.