As noted, I great way to do this is to simply create a table in the front end. It is assumed that you will split your database into two parts. The code/forms etc. is the so called front end,and then you have the back end part (the database - it can be a accDB file, or it can be say SQL server).
So the typical update and deploy of your software will be:
Re-link your tables from test database to the actual live production database.
Compile your accDB into a accDE.
Deploy this new updated "next" version of your software to all the desktops.
So, since any change or addition to settings will be in the new front end then any application wide settings you have will thus roll out with your update.
It often depends on the user base. In the case that we had multiple customer sites running our software, then using a local table would not suffice, since things like path names, connection strings to the database etc. are customer specific. So, in this case we moved the settings table out to a text file (setup.ini). So we now use a setup.ini file that is external to the program and assumed to be deployed in the same folder as the front end. On startup we use the windows API to read ".ini" files.
So, both ideas (external setup.ini) or a local table in the front end are rather good choices from a development cycle point of view.
So once you down the road in developing your application, and the table/data structure changes are down to a dull roar, then it is time to split your application. (use the built in split wizard for this). I will say that even for my .net applications, I still often use a external setup.ini file for settings, since once again with multiple customer sites, it not practical to have customer specific settings in the application as opposed to a external settings file.