You can allow a normal unix user to create processes on privileged ports (e.g. under 1024) by assigning them the privilege net_privaddr. This is useful if you want your webserver to run as a non-root user.
# usermod -K defaultpriv=basic,net_privaddr webservd
This change will be recorded in the file /etc/user_attr. The user will need to re-login and restart processes to pick up these changes.
There are LOTS of other privileges you can assign this way, you can see a listing with a brief description as root by running
# ppriv -lv