To investigate the mesoscopic crack evolution behavior and the dominant mechanisms during the failure process of sandstone, an integrated approach combining acoustic emission moment tensor inversion with RA-AF parameter analysis was employed to quantitatively characterize the types, spatiotemporal distribution, and stress response characteristics of microcracks. Based on moment tensor theory and incorporating sensor coupling coefficients calibrated through pencil-lead break experiments, microcracks were classified into five categories—shear cracks, tensile-shear mixed-mode cracks, compressive-shear mixed-mode cracks, tensile cracks, and compressive cracks—using the crack tensile angle criterion. Furthermore, an RA-AF empirical model was established to support the analysis. The results indicate the following: (1) Under various loading paths, microcracks resulting from sandstone failure are predominantly shear cracks. The number of each of the five microcrack types exhibits a positive correlation with stress level, with shear cracks showing the most significant increase. (2) As stress increases, microcracks initiate, propagate, and gradually coalesce, forming a fracture zone that corresponds to the macroscopic failure surface. (3) RA-AF analysis reveals that shear cracks account for more than 50% of all microcracks in sandstone, which aligns with findings from moment tensor inversion. (4) Waveforms generated by tensile cracks exhibit abrupt characteristics, with concentrated signal energy in the frequency domain, whereas waveforms associated with shear cracks display oscillatory behavior, featuring dispersed frequency-domain energy and higher amplitude. This distinction provides a physical mechanism that explains the heterogeneity observed in RA-AF parameters. (5) Moment tensor inversion is well-suited for theory-driven, detailed analysis of crack mechanisms, while RA-AF analysis is more appropriate for rapid identification of crack types in engineering practice. This study elucidates the dominant micromechanical mechanism of shear failure in sandstone and the co-evolutionary behavior of multiple crack types, thereby providing a theoretical foundation for rock fracture prediction.