I agree with Ayende's feelings about this:
It is a huge API, it makes a lot of assumptions and it is really not nice to work with in terms of what it gives you and what you have to implement
This is also my experience. Anytime that I've implemented my own membership provider (twice at the time of this writing) I left the vast majority of the overridden methods unimplemented, because I was never going to call them and I wasn't using any of the web-forms controls that make use of them.
The Sql and Active Directory providers are great if they meet all of your needs. But if they don't and you are thinking of implementing the providers, there may be a better way for you.
Don't confuse the MembershipProvider with FormsAuthentication, which I still rely on regularly for my applications. This is the mechanism that takes care of wrapping the user's authentication token in a cookie and passing between client and server. There's nothing wrong with FormsAuthentication as far as I know and I wouldn't suggest reinventing it.
If you don't want to implement dozens of MembershipProvider methods, RoleProviderMethods, and ProfileProvider methods then just implement IPrincipal and IIdentity and just do what you need to do. Here's an example of getting those 2 interfaces working with FormsAuthentication, which is trivial.
Also, be aware that you need to be smart about storing your users' credentials. The SqlMembershipProvider does can at least store hashed salted passwords. Be sure you at least do the same. Here's a nice piece of code to help out with this. Notice the slow hashing algorithm used. Don't do drugs.
update (2013-12-16)
Things have changed in ASP.net since I wrote this. ASP.NET Identity replaces the Membership features from before.
My recommendation is to use the new stuff because:
- You can implement various interfaces to compose a solution that meets your needs. This means you can implement that parts you want and ignore that parts you don't.
- You can completely change where/how you store the identity data, while retaining the default implementation controlling how passwords get hashed.
- OAuth and OpenID features.
- You can use the same system in any framework built on OWIN.
The API is slightly more complicated than before, but more flexible.