Is there a way to make a specific user to have privileges to make changes to dhcpd and bind in Centos. I am using another program to make changes to my DHCP and DNS server but I don't want to put my root username and password on that device.

You can do it one of two ways. Either give a 'regular' user sudo rights to just run some commands (like "vi /etc/dhcpd.conf"), or install Webmin, and just give that user access to just those modules.

Is there a decent guide on how to set up sudo user for dhcpd?

No, because that's not what SUDO is. SUDO is a mechanism to allow a regular user to have elevated privileges for some command(s). So, as said, set up that one use to ONLY have rights to run some commands, like "vi /etc/dhcpd.conf", or whatever else you'd like them to be able to do. From there, they just have to type in "sudo <command name>", and it works. They can't do ANYTHING else as root, and all use of those commands would be tied back to the user in the sudo logs.

There are many threads on here that deal with setting up sudo to just run certain commands...take a quick search, and I'm sure you'll find them. And again, if you set up webmin, you can give access to only the DHCP and DNS modules to certain users, and do the same thing, only through a web browser GUI.