An array of talents was on display Sunday at the Kennedy Center Honors gala where President Barack Obama toasted the lifetime achievements of an iconic ballerina, a famed comedian, a timeless actor and two chart-topping musical acts.

In the 35th installment of the honorary event, late-night show host David Letterman, ballerina Natalia Makarova, actor Dustin Hoffman, blues musician Buddy Guy and the rock group Led Zeppelin joined the ranks of the top musicians, dancers and actors of their time.

The festivities kicked off at a White House reception where Obama honored the award recipients and recounted highlights of their careers.

"Each of us can remember a moment when the people on this stage touched our lives. ... Maybe they inspired us to see things in a new way, to hear things differently." Obama said. "It is that unique power that makes the arts so important."

The Kennedy Center Honors has long been a tradition that bridges Hollywood and Washington, and this year was no exception. Aside from the honorees, other notable attendees included actors Alec Baldwin, Jack Black and Morgan Freeman; rockers Lenny Kravitz and Jeff Beck; and such politicians as House Minority Leader Nancy Pelosi, Sen. Thad Cochran of South Dakota and Secretary of Health and Human Services Kathleen Sebelius.

After the White House reception, the cadre of luminaries and guests moved to The Kennedy Center, a performing arts space overlooking the Potomac River, for an event dedicated to their respective talents.

This is the fourth time Obama has honored Kennedy Center award recipients. Last year's group included singer Neil Diamond, composer Sonny Rollins, theater actor Barbara Cook, cellist Yo-Yo Ma and actress Meryl Streep.

While the 2011 pool of honorees had a noticeable music bent, the backgrounds in this year's group are more diverse but equally talented.

Letterman, host of "The Late Show" on CBS, was recognized for his 30 years in late-night television and joined a small group of past comedians who have won the award. In a press release, Kennedy Center chairman David Rubenstein described Letterman, 65, as "one of the most influential personalities in the history of television."

With more than 5,000 broadcasts, Letterman, holds the title as the comedian with the longest late-night career in the United States, recently surpassing the industry's previous standard-bearer, the late Johnny Carson.