One way is to reduce the force applied towards zero as the object's velocity increases to it's max speed.
Another way is to apply an equal and opposite force as the objects approaches it's max speed. In real life this is how terminal velocity works, as wind resistance opposed to gravity when falling for example. Or friction, on a horizontal plane.
The last way is to manually set the x and y velocities to maxmin(currentvelocity,maxvelocity) every tick. You'll have to do a little vector math to get the maximum x and y velocity for any given angle of motion. This could be the simplest solution, but manually setting velocity can also possibly cause issues down the road.
Edit: I did mean min, thanks for the catch dop.