As with any Microsoft question "It depends".
(1) If you are just wanting to move the data out of the table then create archive table(s) to move the data in. Then run a job on a daily/weekly basis to copy to the new tables and and then remove the existing records.
(2) As above you can create a new db on the same or different server.
There are others but these are the easiers
The link below gives a good demo.
http://vyaskn.tripod.com/sql_archive_data.htm