I had this happen just the other day when canning my sauerkraut. It's not super uncommon if you hand tightened them past finger tip tight. You really just want the thumb and index finger spinning until it's tight. then stop. for the can to vacuum seal properly the lid actually has to vent steam some. then when it's done and cooling it actually seals.
The general consensus is that you should re-can them with in 24 hours. if not most people advise to keep them in the fridge.
I'm suprised I haven't had this happen to me. I always tighten just a little further than what you describe.
... I picked the jars out of the water and the bottom just fell out...
Like this?