Is it permissible to name a newborn male "Sam" after the son of Prophet Noah (peace be upon him), and to name a newborn female "Sarah" (or Sara) after the wife of our master Abraham (peace be upon him)?

It is permissible to be named "Sam" because it is the name of one of Noah's sons (peace be upon him). As for the name "Sara," there is no Shariah impediment to it, but its meaning in Arabic is not suitable for a female. It is preferable to use the name "Sarah" (with the rounded ta') because it is the name of Prophet Abraham's wife (peace be upon him).