In the settings tab you will find many things. For starters, if you look at the top of the page, you will find six categories-General, Writing, Discussion, Traffic, Import, and Export.
In the general category, you will find that you can edit your site title, tagline, and address. You can also change the privacy of your site, to public, hidden, and private. you also have the option to delete your site, and restart your site.
In the writing category, you can find how many tags and categories that your site has. You can change the post format, and you can also enable a feature that will “clip text, images and videos from any web page.”
In the Discussion category, you will see comment moderation, and article settings. There is also email settings and a comment blacklist.
In the Traffic tab, you can find different options that you can use to see who is coming to your page, such as using google analytics to track the web traffic of your page.
And finally, in the import and export tab, you can import a site to the site that you own, or export your site to a different one.
I only used the general settings, and I edited the Title, and left it at that.