When you create a login, SQL Server add a 4 bytes salt key to it (i.e. Password '12345678' + key 0x1234abcd) and hash it using SHA algorithm.
Because the salt key is randomly generated, each hash will be different unless it use the same key twice. (1 out of 65k possible salt keys)
You can see the salt key at the beginning of the hash. First 2 bytes are used to store the version of the hash algorithm used. The 4 next bytes are the salt key. The remaining bytes save the hash of your password.
When you login, it takes the salt key out of the stored hash, add it to the input from the login windows and hash it. It then compare the result to the password portion of the stored hash.
With 0x02002F6CB52E7F571AD422689021EB9EC1BE2AB4576AE6EC12485333A4CB892A9197B440E1471376A5AAC5160847F636A637D1F499880D7653ABC4DB4714746856E01DE41E09
we have:
Header version = 0x0200
Salt = 0x2F6CB52E
Password = 0x7F571AD422689021EB9EC1BE2AB4576AE6EC12485333A4CB892A9197B440E1471376A5AAC5160847F636A637D1F499880D7653ABC4DB4714746856E01DE41E09