When you select a virtual machine from the list in the Manager window, you will see a summary of that machine's settings on the right.
Clicking on the "Settings" button in the toolbar at the top brings up a detailed window where you can configure many of the properties of the selected VM. But be careful: even though it is possible to change all VM settings after installing a guest operating system, certain changes might prevent a guest operating system from functioning correctly if done after installation.
Note
The "Settings" button is disabled while a VM is either in the "running" or "saved" state. This is simply because the settings dialog allows you to change fundamental characteristics of the virtual computer that is created for your guest operating system, and this operating system may not take it well when, for example, half of its memory is taken away from under its feet. As a result, if the "Settings" button is disabled, shut down the current VM first.
VirtualBox provides a plethora of parameters that can be changed for a virtual machine. The various settings that can be changed in the "Settings" window are described in detail in Chapter 3, Configuring virtual machines. Even more parameters are available with the VirtualBox command line interface; see Chapter 8, VBoxManage.