This is where you can create, manage, and view the Permission Sets in the system. You can grant specific administrative access/features for each permission set. You can create different levels of access for Administrator accounts and these users will be able to access features based on their permission set. 

Selecting Configure will display all the permissions available and will indicate which permissions have been set for that particular Permission Set with a check mark. 

To remove/add a permission from a Permission Set, select the check mark next to the permission on the list and then select Save.