What is Delegated Administration and what is the difference between Administrator and Delegated Administrator? - Answers - Salesforce Trailblazer Community
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Kalloori RameshKalloori Ramesh 

What is Delegated Administration and what is the difference between Administrator and Delegated Administrator?

Shivanath DevinarayananShivanath Devinarayanan
Delegated administrators can perform the following tasks:
Creating and editing users and resetting passwords for users in specified roles and all subordinate roles, including setting quotas, creating default opportunity teams, and creating personal groups for those users
  • Unlocking users
  • Assigning users to specified profiles
  • Logging in as a user who has granted login access to their administrator
  • Managing custom objects created by an administrator
Here are some useful links : 
Johan YuJohan Yu
+1 Shiva
Administrator is standard profile which can do almost everything in Salesforce
Rahul ReddyRahul Reddy

For example A company has 3,000 Salesforce Enterprise Edition licenses, and they have only one system administrator. The system administrator receives many requests to reset the password, change login hours, unlock users, or change their sharing settings daily. To reduce this, the system administrator can go ahead and set up a delegated administrator, so that any other user who is a delegated administrator can help with the workload.

Delegated Administrator’s are users who are given admin-level permissions. The idea to give trusted individuals access to Salesforce to help with the following:
  1. Create and edit users including password resets, teams and groups.
  2. Assign users to roles and permission sets
  3. Unlock/Freeze Users
  4. Login as a user who has granted login access 
  5. Manage custom objects (i.e.: field labels, values etc.)

Main Differences:

When delegating administration, keep the following in mind. Delegated administrators:
  1. Can’t assign profiles or permission sets with the “Modify All Data” permission​​​​​​
  2.  Don’t see the None Specified option when selecting a role for new users
  3. Need access to custom objects to access the merge fields on those objects from formulas
  4. Can’t modify permission sets
  5.  A delegated administration group is a group of users who have the same admin privileges. These groups are not related to public groups used for sharing
     
Sources:
https://adminhero.com/2015/06/22/becoming-efficient-delegated-admins/
http://sfdcsrini.blogspot.com/2015/10/delegated-administration-in-salesforce.html#
https://help.salesforce.com/articleView?id=admin_delegate.htm&type=5
https://www.asagarwal.com/step-by-step-guide-to-delegated-administration-in-salesforce/