There is the built-in Settings feature. You can configure the settings via the property pages for the project and then access them from code via Properties.Settings. But I have had some problems with this approach. For one thing, the file is saved in a location that you can't choose with a name you can't choose. And IIRC, that location/filename changes base on the location from which you run the application. Plus you don't control the format of the file. In addition to those shortcomings, I've experienced some sort of file corruption that causes exceptions when the settings are accessed. The fix is to have the user locate and delete the settings file.
I don't use the Settings feature anymore. I prefer JSON-serialized text files that I can save wherever I like. File.IO is certainly nothing to shy away from and neither is JSON serialization. I'm sure you can find a ton of great examples of both of those on this site.