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On Amazon.com - Basketball Skills and Drills by Jerry Krause, Don Meyer and Jerry Meyer. Second Edition.
This is an excellent book for learning and teaching the game. Each chapter discusses one of the fundamental skills (example: ballhandling), and then provides the drills needed to develop those skills. The fundamentals covered include body control, cutting, screens, ballhandling including passing and catching and dribbling, shooting, outside moves, post moves, defensive skills, rebounding, and team offense and defense. A practice planning guide is included. In addition, my copy included a two disk CD-ROM version, but you can save money by getting a copy without the CD-ROM's.

If you could own only two basketball books, buy Jerry Krause's Coaching Basketball, and this one (or Garfinkel's Five-Star Basketball Drills - see below).