I am new to sharepoint, and want to create an sharepoint site where all other
people of my team can update their contact information like phone numbers,
address etc.. but i should be the admin... if anyone of you can provide me the
steps listed in some articles or the way to proceed it'll help.

any existing template would work too...

right now when i am trying to start sharepoint portal svr it gives me

"SQL Server does not exist or access denied."

i have sql 2005 ..installed... chk the screen shot

i have windows 2003 ent edi and internet explorer 7 beta.