WCF offers a lot of mechanisms for authentication and subsequent authorisation.
As for authentication: if you're behind a corporate firewall in a LAN, using the straight Windows credentials is the easiest - no messy username/passwords to remember and send around, it just works out of the box. This can be combined with authorisation checks against the Windows group membership system, e.g. only allow certain groups of users to perform an action.
If you're looking at internet-facing services, you have the choice between username/password schemes, or certificates. The standard username/password scheme can be checked against the ASP.NET membership system that ASP.NET 2.0 brought us, both for authentication (membership) as well as authorisation (role provider).
Certificates are great if you're dealing with a very limited set of external users, e.g. busienss partners or such. The certificate must be delivered to the client "out of band", e.g. on some other way, by disk or something. But once installed, it's seamless to use and to verify.
Juval Lowy (author of "Programming WCF Services") has a great article on MSDN on Declarative WCF Security in which he highlights his five security scenarios, how to use and secure them, and he even has a declarative extension for WCF to do this by merely applying an attribute to your service contract - pretty smarT!