How is security managed in SharePoint?

How is security managed in SharePoint?

Authentication:
SharePoint can run under various IIS modes to authenticate its users. The modes include: Anonymous, Basic, Integrated Windows or Certificates Authentication (over SSL).

Authorization:
SharePoint security facilitates the regulation of access privileges of users and groups as well.

Impersonation:
.NET Impersonation which is utilized by SharePoint allows an application to run under the context of the client accessing an application.

Deployment and Code Access Security:
.NET Code Access Security (CAS) provides a security model. It can restrict the operations that can be performed as well as the resources that can be accessed by managed code.
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