Install Featured Posts Box on Front Page

The current featured posts box on my website takes the newest post and automatically puts in the featured posts box. I want the ability to pick and choose which posts should be featured. I want my featured posts box to look like the one on AskMen's site. Check it out at [login to view URL] Also, when I make a post, it is automatically shown on the front page. But I don't want EVERY post to show up on the front page as a lot of articles shouldn't get that kind of exposure. I also want control over what articles are shown on the main page.