Linux – Fit-PC as a Lightweight Linux Server

Short answer: you can't. Ports below 1024 can be opened only by root. As per comment - well, you can, using CAP_NET_BIND_SERVICE, but that approach, applied to java bin will make any java program to be run with this setting, which is undesirable, if not a security risk.

The long answer: you can redirect connections on port 80 to some other port you can open as normal user.

Run as root:

# iptables -t nat -A PREROUTING -p tcp --dport 80 -j REDIRECT --to-port 8080

As loopback devices (like localhost) do not use the prerouting rules, if you need to use localhost, etc., add this rule as well (thanks @Francesco):

# iptables -t nat -I OUTPUT -p tcp -d 127.0.0.1 --dport 80 -j REDIRECT --to-ports 8080

NOTE: The above solution is not well suited for multi-user systems, as any user can open port 8080 (or any other high port you decide to use), thus intercepting the traffic. (Credits to CesarB).

EDIT: as per comment question - to delete the above rule:

# iptables -t nat --line-numbers -n -L

This will output something like:

Chain PREROUTING (policy ACCEPT)
num  target     prot opt source               destination         
1    REDIRECT   tcp  --  0.0.0.0/0            0.0.0.0/0           tcp dpt:8080 redir ports 8088
2    REDIRECT   tcp  --  0.0.0.0/0            0.0.0.0/0           tcp dpt:80 redir ports 8080

The rule you are interested in is nr. 2, so to delete it:

# iptables -t nat -D PREROUTING 2

I have not worked with a IRCd in a while, but from my past experience if your running a small capacity IRCd then your not going to be using up alot of system resources where as a large capacity IRCd would use up alot of system resources. My suggestion would be either InspireIRC, UnrealIRCd or UltimateIRCd because they give you the option of what modules to run with the server.