Peer to Peer is a network where stations communicate directly. There is no base and no one gives permission to talk.

No Authentication gives an open network where everyone can connect.

WEP (Wired Equivalent Privacy) is a security algorithm for IEEE 802.11 wireless networks.

WPA2Personal is a security protocol and security certification program developed by the Wi-Fi Alliance to secure wireless computer networks. WPA2Personal is using a Pre-shared key abd is designed for small networks and doesn't require an authentication server.

If the selected network requires a security key (password) it must be entered.