SSID
Service set identifier, or SSID, is a friendly name that identifies your 802.11 wireless LAN.

Channel
This field determines which operating frequency will be used. It should not be necessary to change the wireless channel unless you notice interference problems with another nearby access point.

Mode
g & b   - Both 802.11g and 802.11b wireless stations can be used.
g only   - Only 802.11g wireless stations can be used.
b only   - All 802.11b wireless stations can be used. 802.11g wireless stations can still be used if they can operate in 802.11b mode.

Security Options
None - no data encryption
WEP - Wired Equivalent Privacy - does not offer end-to-end security; don't use.
WPA-PSK [TKIP] - Wi-Fi Protected Access with Pre-Shared Key. It includes message-integrity checks that guard against forged packets.
WPA2-PSK [AES] - Wi-Fi Protected Access version 2 with Pre-Shared Key, use WPA2-PSK