Sql – Inserting a GUID to each existing row

• @@IDENTITY returns the last identity value generated for any table in the current session, across all scopes. You need to be careful here, since it's across scopes. You could get a value from a trigger, instead of your current statement.

• SCOPE_IDENTITY() returns the last identity value generated for any table in the current session and the current scope. Generally what you want to use.

• IDENT_CURRENT('tableName') returns the last identity value generated for a specific table in any session and any scope. This lets you specify which table you want the value from, in case the two above aren't quite what you need (very rare). Also, as @Guy Starbuck mentioned, "You could use this if you want to get the current IDENTITY value for a table that you have not inserted a record into."

• The OUTPUT clause of the INSERT statement will let you access every row that was inserted via that statement. Since it's scoped to the specific statement, it's more straightforward than the other functions above. However, it's a little more verbose (you'll need to insert into a table variable/temp table and then query that) and it gives results even in an error scenario where the statement is rolled back. That said, if your query uses a parallel execution plan, this is the only guaranteed method for getting the identity (short of turning off parallelism). However, it is executed before triggers and cannot be used to return trigger-generated values.

Syntax:

ALTER TABLE {TABLENAME} 
ADD {COLUMNNAME} {TYPE} {NULL|NOT NULL} 
CONSTRAINT {CONSTRAINT_NAME} DEFAULT {DEFAULT_VALUE}
WITH VALUES

Example:

ALTER TABLE SomeTable
        ADD SomeCol Bit NULL --Or NOT NULL.
 CONSTRAINT D_SomeTable_SomeCol --When Omitted a Default-Constraint Name is autogenerated.
    DEFAULT (0)--Optional Default-Constraint.
WITH VALUES --Add if Column is Nullable and you want the Default Value for Existing Records.

Notes:

Optional Constraint Name:
If you leave out CONSTRAINT D_SomeTable_SomeCol then SQL Server will autogenerate
    a Default-Contraint with a funny Name like: DF__SomeTa__SomeC__4FB7FEF6

Optional With-Values Statement:
The WITH VALUES is only needed when your Column is Nullable
    and you want the Default Value used for Existing Records.
If your Column is NOT NULL, then it will automatically use the Default Value
    for all Existing Records, whether you specify WITH VALUES or not.

How Inserts work with a Default-Constraint:
If you insert a Record into SomeTable and do not Specify SomeCol's value, then it will Default to 0.
If you insert a Record and Specify SomeCol's value as NULL (and your column allows nulls),
    then the Default-Constraint will not be used and NULL will be inserted as the Value.

Notes were based on everyone's great feedback below.
Special Thanks to:
    @Yatrix, @WalterStabosz, @YahooSerious, and @StackMan for their Comments.