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Preferences
The preferences are settings that aren't changed that often. 

To access the Preferences, click "Preferences" from the "File" menu.  There are 6 different sections.  Just click on the section you'd like as seen above.  After clicking the section, the right hand portion of the screen will show the details.

General 
Audio Processing 
Clipboard 
CD/DVD Burner 
MP3 CDs 
Ripping Tracks 
Sound Scan 
Remote Database