Apple has published a technical note explaining that the WPA2 setting for wireless security provides the best network throughput to multiple devices, using Apple’s AirPort hardware. Using older protection – WPA – will prevent the devices from exceeding 54 Mbps (megabits per second). Apple’s article suggests that this is the case for other hardware, but says that users should check the correct configuration for non-Apple devices. However, WPA/WPA2 Personal provides higher throughput for single devices, such as a single computer and router. In most cases, your actual Internet bandwidth will not exceed 54 Mbps, so if you only have a single computer, this is not an issue.
To set WPA2 protection, open AirPort Utility, choose your base station, then click Manual Setup. Click the AirPort icon in the toolbar, then the Wireless tab, then choose WPA2 Personal from the Wireless Security menu.