Software reliability models assess the reliability by predicting faults for the software. Reliability is a real world phenomenon with many associated real-time problems. To obtain solutions to problems quickly, accurately and acceptably, a large number of soft computing techniques have been developed, but it is very difficult to find out which one is the most suitable and can be used globally. In this paper, we have provided an overview of existing soft computing techniques, and then critically analyzed the work done by the various researchers in the field of software reliability. Further to this, we have also compared soft computing techniques in terms of software reliability modeling capabilities.