Members of the securityadmin fixed server role manage logins and their properties. They can GRANT, DENY, and REVOKE server-level permissions. They can also GRANT, DENY, and REVOKE database-level permissions. Additionally, they can reset passwords for SQL Server logins.
Reference
Server-Level Roles
Concepts
Permissions of Fixed Server Roles
Other Resources
sp_helpsrvrole (Transact-SQL)
sp_helpsrvrolemember (Transact-SQL)
sp_srvrolepermission (Transact-SQL)
Security Considerations for Databases and Database Applications
Help and Information
Getting SQL Server 2005 Assistance