There are three conditions to be met for some operator to be a valid density matrix:
- $\mathop{\mathrm{Tr}} \rho = 1$,
- $\rho^\dagger = \rho$ and
- $\rho \ge 0$.
Any operator fulfilling these properties will describe a (not necessarily pure) generalized state of a quantum system. I use the term generalized here to avoid confusion with the common identification of (rays of) vectors from a Hilbert space with states of a quantum system.
A qubit is a quantum system with two basis states, so any two-by-two density matrix can be interpreted as the generalized state of a qubit in some basis.
Exactly those density matrices that additionally fulfil $\rho^2 = \rho$ correspond to pure states (that is, states that can be represented by state vectors).
As you also ask about nomenclature: Be careful with the word superposition. Any normalized linear superposition $\alpha\left|A\right> + \beta \left|B\right>$ of state vectors $\left|A\right>$ and $\left|B\right>$ is again a pure state of the system, it will have the density matrix $\rho = \big( \alpha\left|A\right> + \beta \left|B\right>\big)\big( \alpha^*\left<A\right| + \beta^* \left<B\right| \big)$ with the property $\rho^2 = \rho$. With a density matrix there is another way a system can be "in both states", namely, they can have some classical probability $p_A$ to be in state $\left|A\right>$ resp. $p_B$ to be in state $\left|B\right>$, this is not called superposition and gets you a mixed generalized state: $\rho = p_A \left|A\right>\left<A\right| + p_B \left|B\right>\left<B\right|$. A linear combination of density matrices will only be a density matrix if the coefficients are real, positive and sum two one. The density matrix corresponding to a superposition of state vectors will not be a superposition of the density matrices corresponding to the state vectors.