Universal Codes: 
Enter the "Options" menu and select "Bonus". Then input the passwords there.
DAMAGE - Enhances Damage 
SIM - Gives you realistic handling 
CREDITS - Shows the game's credits 

Note: The codes are different from disc to disc. Check under your disc and find the correct number, then type in the appropriate cheat. 

Change the Handling:
YOOOOY: 1010
RWMRKV: 1521
RFIHWL: 2072
WLNREA: 2569
LUBTNUL: 3588
BAAYQB: 3906
YPJCDO: 6471
DDYQJL: 6778
FMXIFR: 7208 

No Damage: 
FYWWYF: 1010
OSAMWR: 2072
LSXGYP: 2569
CZIKYT: 3588
FACIFE: 3906
IFTPUK: 6471
NPXMHD: 6778
AERLJL: 8224
FGZASO: 7208
PYGMMM: 8224 

Unlock All Cars: 
SLDDLS: 1010
PLSZGF: 1521
LJLYZF: 1785
DDYYHY: 2072
LJQZEL: 2569
BDVHHA: 3588
YUPAVP: 3906
MKWAVP: 3956
KUPTFI: 6471
RFINLW: 6778
IFFYDD: 7208
WOYHHI: 8105
LJFCZH: 8224 

Unlock All Championships: 
FMXXMF: 1010
FZYFLG: 1521
IHHSLP: 1785
TLYYZF: 2072
YPJQIN: 2569
MVQAVP: 3588
ZEUHHA: 3906
MZDHHA: 3956
WLNMHD: 6471
LWRPUK: 6778
YOOUJM: 7208
RBBDSL: 8224 

Unlock All Pro Challenges:
FGZZGF: 1010
FNJYHY: 1785
MJUHHS: 2072
IFTBBR: 2569
TLHMEI: 3588
ZNZWCM: 3906
RCVWCM: 3956
LSXQJL: 6471
USKCDO: 6778
FYWYLT: 7208
NIQRTQ: 8224 

Unlock All Tracks: 
GLFFLG: 1010
YHYXMF: 1521
MMMHHS: 1785
NPXSLP: 2072
DHMFJL: 2569
DJEWCM: 3588 
VFCMEI: 3906
ZVIMEI: 3956
ODCJPY: 6471
OSAXSL: 6778
VKRXPN: 7208
LEZFAS: 8224