Let me first understand what is your exact requirement?
ASP.NET app is in web server.
SQL Server is in the same server.
You can connect using sql server instance installed in the server.
Standard Security
Server=myServerAddress;Database=myDataBase;User Id=myUsername;
Password=myPassword;
Trusted Connection
Server=myServerAddress;Database=myDataBase;Trusted_Connection=True;
using Sql Server Instance
Server=myServerName\myInstanceName;Database=myDataBase;User Id=myUsername;
Password=myPassword;
Now, if your sql server exists in a different server
Connect using IP address
Data Source=190.190.200.100,1433;Network Library=DBMSSOCN;
Initial Catalog=myDataBase;User ID=myUsername;Password=myPassword;
Now, if your sql server exists in your machine -
the scenario to connect is absurd
Hope this helps!
Cheers