The list administrators are the people who have ultimate control over all parameters of this mailing list. They are able to change any list configuration variable available through these administration web pages.
The list moderators have more limited permissions; they are not able to change any list configuration variable, but they are allowed to tend to pending administration requests, including approving or rejecting held subscription requests, and disposing of held postings. Of course, the list administrators can also tend to pending requests.
In order to split the list ownership duties into administrators and moderators, you must set a separate moderator password in the fields below, and also provide the email addresses of the list moderators in the general options section.