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What are the types of custom settings in Salesforce? What is the advantage of using custom settings?

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There are two types of custom settings in Salesforce: List Custom Settings and Hierarchy Custom Settings.

List Custom Settings are a type of custom settings that provides a reusable set of static data that can be accessed across your organization irrespective of user/ profile.

Hierarchy Custom Settings are another type of custom settings that uses built-in hierarchical logic for “personalizing” settings for specific profiles or users.

The advantage of using custom settings is that it allows developers to create a custom set of access rules for various users and profiles.
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