In the General section, set the sample rate to 48 kHz.
Then, click the drop down menu for the "Channels" setting and select "Stereo."
The Global Audio Devices section is different for everybody as we each have different devices for inputs and outputs. For desktop sound, set it to you desktop, headset, speakers, or whatever you'll be using while you stream or record. For "Mic/Auxillary", select your microphone. If you have a Go XLR or a device of this sort, you only have to one "Mic/Auxillary" section to that device.
You'll want your Meters section to have the decay rate set to "Fast" and the peak meter type set to "Sample Peak."
Go over other settings in this part
Be sure to click the "Apply" button at the bottom to ensure that your settings have saved