The memebrs db(memberships Database) allows developers to not have to figure out how to build a authentication and authorization db. They've prebuilt it! We as developers just focus on how we want to use that database. It come preset with all the security "stuff" you'd want on a site like: uid, pwd, secret question and answer, email address, etc(alot more that i don't want to type :))...plus it allows you to provide your own customizations like it you want to collect points for each user for the number of questions answered like here at asp.net.
It allows us to not have to figure out the internal workings of our security and focus on the information and administration of our sites! It has been great for me and sites that i work with.
The concept is to have a authentication/authorization db and content db's.
So my security is handled outside of the content db's, that way we're managing security seporate from content! I can have 50 sites using my "Members db" and 50 seporate "Content db's"(might be a bit much) to manage the information on each site. But only one members db. Think of how live/passport works, one login for all of the different sites and services they provide. You can login to hotmail, connect, Mesh Live, partners site, technet, msdn all with one login.
On the flip side you can have users of different site who will never enter into each others sites also maintained in the same members db!
In summary security is different from content and should be treated as such...
Hope this helps!