Failure of brakes

Here's what I'd do -

1. Say to myself "What the H-E-C-K".
2. Press the clutch and lower the gear by 1. Thus reducing the speed of the vehicle.
3. Control the steering wheel to prevent the car from colliding with other big objects on road.
4. Repeat #2 & #3 until the car comes to stop.
5. Thank God for saving my life.

wow ! Here is what I would do !

1) Apply hand brake
2) Keep pressing and unpressing main brake all the time.
3) Switch to lower gear by pressing clucth (Makeing sure that clutch is in disengaged state for least possible time)
4) take care of vehicle not colliding over anything.
5) Repeate step 3 till vehicle is on 1st gear and then letting it in engaged condition.
6) Switch ON/OFF the main lights.

--Differential

Guys, first thing you gotta do is turn your hazard lights on! lol. How are the other road users going to know you are in trouble?

Yep, its good to reduce gear. This is called "engine braking", used in modern automatic cars when going downhill.

Personally, i'd only use the handbrake when I've slowed down to around 20 km/h, rather than at 60 😛