@@VERSION returns information about the version,
processor, build date, copyright info and the operating system of the
current SQL Server installation
SELECT @@VERSION as VERSION
returns
'Microsoft SQL Server 2005 - 9.00.3042.00 (Intel X86) Feb 9 2007
22:47:07 Copyright (c) 1988-2005 Microsoft Corporation Developer
Edition on Windows NT 6.0 (Build 6000: ) ' on my machine
SERVERPROPERTY displays information about the server instance
We can use the SERVERPROPERTY with the 'propertyname' to get information about the SQL SERVER instance.
For eg:
To get the product version, use :
SELECT SERVERPROPERTY('productversion') as ProductVersion
returns '9.00.3042.00' on my machine
To get the Service Pack information or the level of version, use :
SELECT SERVERPROPERTY ('productlevel') as Level
returns 'SP2' on my machine
To get the product edition, use :
SELECT SERVERPROPERTY('edition') as EDITION
returns 'Developer Edition' on my machine
Similary
you can retrieve the LicenseType, MachineName, Number of client
licenses on the current instances, servername and many more property
information about the current sql server instance.
Check a list of other properties over here.