Buddi Live was written with simplicity in mind. Thus, there are not a lot of options. However, there are some, and it is important to understand what these options do.
To view / edit the system preferences, go to the toolbar menu and select System -> Preferences.
For privacy conscious individuals it is recommended to select the 'Encrypt Data' option and not select the 'Store Email' option. When enabling encryption you will be prompted for your password. This is the password that is used for encryption, so it is critical that it is a good quality password.
When encryption is enabled, you will see a lock icon in the toolbar, next to the Reports menu: