What's the best method for storing steaks in the freezer? How should I wrap them? Should they be stored individually?
Yes, store them individually.
First, wrap them tightly in plastic wrap, preferably one that says it's specifically for freezer use. Then wrap this tightly in aluminum foil. They'll keep for months without freezer burn this way.
Vacuum-sealed in plastic bags works really well. You can put multiple in each bag as long as the vacuum sealer can get all the air out.
Keep in mind that a frost free (refrigerator) freezer is not a good place to store anything, and in particular, meat.
In general, I keep food that I intend to use soon upstairs in the fridge freezer for convenience, but If I'm storing it for a week or more, It goes down in the basement deep freeze.
A frost free freezer keeps warming up to melt the ice, giving very inconsistent temperatures. and can even lead to partial thawing of the surfaces of meat.
Wrap well in plastic (individually) and then put in a freezer bag. We can get 6 months easy. Possibly more but I haven't tried.
I wrap steaks individually in freezer paper, then put them into ziploc freezer bags. The freezer paper is really nice because it doesn't stick to the meat.
Put them in a ziplock type bag and suck as much air as possible (water bath method or use a vacuum machine)
Freeze the steaks as quickly as possible. Set them in a single layer on a baking sheet and put them in the freezer.
Once frozen, wrap in foil to protect them further (as other wrote).