The probably easiest solution is to cooy the DLLs into a directory that is in PATH. That way Windows will automatically find the DLLs. The better solution would probably be to create your own directory and add thta syatem wide to PATH, so you don't pollute for example the system32 directory.
The issue this has, is if you have to support multiple versions of SFML.
My preferred solution is to just statically build and link SFML. All the additional dependencies you have to link are provided in the extlibs directory of SFML's source distribution.
This however still leaves you with the openal32.dll, which can't be linked statically due to its LGPL licensing.
The manifests should be able to provide more flexibility, unfortunately I have no idea how they work.