"He is now as valiant as Hercules
that only tells a lie, and swears it...."
See in text (Act IV - Scene I)
That is, a man now can be as brave as Hercules by bragging about his great deeds and then swearing an oath.
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"You break jests as braggards
do their blades..."
See in text (Act V - Scene I)
Benedick's simile implies that Claudio is a coward—when braggards (braggarts) break their sword blades, they do so in order to avoid actual combat or dueling.
"And yours as blunt as the fencer's foils..."
See in text (Act V - Scene II)
When fencers practice, they use a foil with a blunt tip so as not to injure their opponents, so Margaret is telling Benedick that his wit is dull.