Are the breakers adjacent? If so, you're probably looking at a multi-wire branch circuit which should--but doesn't--have an approved tie-bar device between the two breakers, and which would use one neutral for both sides of the circuit.
Multi-wire branch circuits are safe when both branches are powered and when both branches are off. They can in some cases be dangerous if one side is powered and the other isn't.
If this isn't multi-wire branch circuit wiring, I doubt that it's safe at all. It appears that black and blue are two hot wires entering from #5, which has one neutral return. If black and blue are anti-phase, as in a multi-wire branch circuit, the maximum current on the neutral will be the difference between the current on the black and blue wires, so the neutrals cannot be overloaded without tripping a breaker. If they're not wired anti-phase, however, the current on the neutral wire will be the sum of the currents on the black and blue wires. If devices on each circuit are drawing 20A, the current in the neutral wire will be 40A--dangerously overloaded.
If the travelers travel through the ceiling boxes, then it's do-able, and you won't need to pull additional cable. Start by opening the ceiling boxes to make sure you have two travelers in both boxes and identify which fixture has a single switchleg connection (and which fixture box has the switchleg traveling though it). It is also common to have the Home-Run power/feeder in the ceiling.
LET'S FORGET ABOUT THE HOME-RUN HOT IN THE CEILING:
Mark the switch with the hot/power as Switch 1. Mark the other switch (with the switchleg) as Switch 2. Identify the travelers A and B.
Switch 1: Disconnect the Hot and Traveler B. Connect the Hot, Traveler B, and a pigtail together with a wirenut. Connect the pigtail to the common screw.
Switch 2: Disconnect Traveler A and cover the end with a wirenut. Exchange Traveler B with the switchleg (in other words, move Traveler B to the common screw terminal and move the switch leg to the traveler terminal).
Now, you need to decide which switch you want to control which fixture. Call Fix 1 the fixture that Switch 1 will control and Fix 2 the fixture that Switch 2 will control.
Identify the ceiling box with "two" switchlegs that connect both fixures; in this ceiling box, there will be two wires connected to the fixture-power-supply via a pigtail, or you may also find two wires connected directly to the fixture-power-supply wire. Disconnect the two switchlegs from the fixture, and identify the side connected to Switch 2. The other side of the leg is connected to the other ceiling fixture. Mark the leg attached to Switch 2 as Leg 2. Mark the other leg as, "Fix Leg"
Identify Travellers A and B. Traveler B is now the Hot for Switch 2. Traveler A will be the switchleg for Switch 1. Disconnect Traveler A. Mark the side connected to Switch 1 as Leg 1, and put a wire nut on the side of Traveller A that is going to switchBOX 2. This side of Traveler A is not being used anymore. Personally I would mark that wire as "dead" or "chicken" or "banana".
Now, it's time to employ your descision making skill. Is this ceiling box for Fixture 1 or Fixture 2?
If you are working in Fix 1, connect Leg 2 and Fix Leg together (so that Switch 2 is powering Fix 2).
OR: If you decided that this ceiling box belongs to Fix 2, then connect Leg 2 to this fixure (and don't connect Leg 2 to Fix Leg).
Now connect Leg 1 (from Switch 1) to either this fixture or Fix Leg (whichever one is left over from the previous step).
Double check your work before closing the boxes: Traveler B is now marked hot for Switch 2. The switchleg for Switch 2 was moved to a traveler terminal and should be identified as, Leg 2. Leg 2 is connected to Fix 2- does it travel through the ceiling box of Fix 1? Traveler A from Switch 1 has been marked Leg 1. Leg 1 is connected to Fix 1. Does Leg 1 travel through the box for Fix 2? The remainder of Traveler A (from which ceiling box to Switchbox 2?) is no longer in use and both ends have a wire nut.
IF YOU HAVE THE HOME-RUN HOT/FEEDER IN THE CEILING:
There are several ways to accomplish rewiring in a more expedient manner (than described in the previous directions). However, describing the intention is perhaps the simplest direction.
Each switch will need power supplied to the common terminal.
Each switch only needs one leg to supply power to one fixture.
The fixtures should not be connected, but since they are on the same circuit they may share a neutral.
Best Answer
This might help. It's a showing a three way connection with power coming from one switch.