Microsoft Knowledge Base Article 313083 contains the following summary:
This article describes how to use the Permissions Wizard to set up basic Internet Information Services (IIS) 5.0 security
for a Web site.
With the Permissions Wizard, you can easily establish and maintain security settings in IIS 5.0. The Permissions Wizard guides you through the following tasks
|•||How to set up permissions on an IIS Web site.|
|•||How to set up authenticated access on an IIS Web site.|
that make it easier for you to set up and to manage a Web site that requires authenticated access to its content.
To set up Web permissions, File Transfer Protocol (FTP) permissions, NTFS file system access permissions, and authentication schemes, the Permissions Wizard uses a scenario-based approach: Instead of setting each area with a separate user interface, you select the scenario that corresponds to the requirements of your site and the wizard sets all of the access permissions and authentication schemes for you. One of the advantages of the scenario-based approach is that the wizard ensures that the Web (or FTP) permissions and the NTFS permissions are properly coordinated and that the correct authentication scheme is used. You can set additional access permissions for Web users in the IIS snap-in.