Women Painters.com: Paint Issues and Fixes:

Cracking ’ Flaking

The splitting of a dry paint film through at least one coat as a result of aging, which ultimately will lead to complete failure of the paint. In its early stages, the problem appears as hairline cracks; in its later stages, flaking occurs.

Possible Causes:

Solution

Remove loose and flaking paint with a scraper or wire brush, sanding the surface and feathering the edges. If the flaking occurs in multiple layers of paint, use of a filler may be necessary. Prime bare wood areas before repainting. Use of a top quality primer and top coat should prevent a recurrence of the problem.