This is what Episcopalians believe about Holy Baptism according to the Book of Common Prayer on page 858.
“Q. What is Holy Baptism?
A. Holy Baptism is the sacrament by which God adopts us as his children and makes us members of Christ’s Body, the Church, and inheritors of the kingdom of God.
Q. What is the outward and visible sign in Baptism?
A. The outward and visible sign in Baptism is water, in which the person is baptized in the Name of the Father, and of the Son, and of the Holy Spirit.
Q. What is the inward and spiritual grace in Baptism?
A. The inward and spiritual grace in Baptism is union with Christ in his death and resurrection, birth into God’s family the Church, forgiveness of sins, and new life in the Holy Spirit.
Q. What is required of us at Baptism?
A. It is required that we renounce Satan, repent of our sins, and accept Jesus as our Lord and Savior.
Q. Why then are infants baptized?
A. Infants are baptized so that they can share citizenship in the Covenant, membership in Christ, and redemption by God.
Q. How are the promises for infants made and carried out?
A. Promises are made for them by their parents and sponsors, who guarantee that the infants will be brought up within the Church, to know Christ and be able to follow him.”