KAIKETSU LIONMARU

It's the late 1500s. Japan is in the midst of a long period of civil wars. As some seek to unite Japan in order to bring peace there are others who forment conflict in order to empower themselves.
Three orphans, a young man (Shishimaru), a young woman (Kazumi) and a young boy (Kosuke) travel around saving people from Akuma Gosun (Devil Gosun). Each is armed with a sword or large knife.
Shishimaru also has a second, magical sword which transforms him into Kaiketsu Lion Maru. After Kaiaketsu Lion Maru has defeated the monster he sheathes the sword, which causes him to revert back to Shishimaru. Shishi is Japanese for "lion".
Kazumi is very dextrous, sometimes taking an enemy's sword and fighting two handed using her own sword and his. Kosuke carries a supply of black powder which he uses to produce small bombs. He also owns a magical flute the sound of which summons Hikarimaru, a white pegasus (winged horse). The flute can also be used like a blowgun. Hikarimaru is ridden by Shishimaru or Lion Maru. In episode 42 Hikarimaru gains the ability to make its wings completely disappear, before they just folded up.
After slicing the monster Kaiketsu Lion Maru draws his hand down the backside of his sword, when he does this the monster explodes. He also has the power to make the wind blow against the monsters (Ninpô Hurricane) and to heat his sword.