In Microsoft Windows 2000 and Windows Server 2003 Active Directory domains, only one password policy and account lockout policy could be applied to all users in the domain.
The Windows Server 2008 operating system provides a way to define different (fine-grained)password and account lockout policies and apply different restrictions to different sets of users in a domain.
Christoffer Andersson, Directory Services MVP, has released the second beta of FGPP - Fine Grain Password Policy Tool. The tool is available as MMC snap-in and a PowerShell cmdlet.
A quick start guide, download link and usage examples are available on Christoffer's blog.