Hi,
This is for setting the information in ABC. This is for setting information in ABC.
By using 'This', you can set various information of ABC, but you haven't done it yet.
Is 'the' needed? Not if you just want to make a general statement.
specifying is better than setting? Yes
Let's say it's a browser such as IE or Firefox or Chrome. 'This' is the settings item you might see on the upper menu bar or somewhere.
So, 'By using the "settings" on the menubar, you can specify/set information of/in the Internet Explorer.'
By using "settings" on the menubar, you can specify information to/for Internet Explorer.'
Instead of your original 2 sentences above, I''d say This is for specifying search information to/for Internet Explorer.
Best wishes, Clive