These are settings that you would find within IIS for websites.
Enable Write Permissions
This allows applications or scripts on your website to write to your hosting space. This is useful if you have upload applications that allow visitors to upload images through there browser to your hosting space.
Enable Directory Browsing
This allows visitors to view the contents of a directory that has no default page. This should be disabled, unless you require this.
Enable Parent Paths
This is used more for Classic ASP allowing the application to access files such as include files in a parent directory.
Dedicated Application Pool
This sandboxes your website from others on the same server and gives improved performance, reliability, and security.
The authentication settings are for advanced users and should not be changed.