Restrict Some Admin Functions or Regular User Can Create Users

I’d like to assign users to a manager role that allows them to create new users and assign them to have no more permissions than they have or less.

Is this impossible because only users with admin type accounts can create users and admin type accounts have full access to everything or is there a way to allow regular users to create new users or give an admin user type an admin menu with limited options?

It seems it would be problematic in large orgnizations to have to give a user complete rights to EVERYTHING in the system just to create a new user.

Nothing is impossible, but you would need to customise the users module, as out of the box only Admin users can create users.