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History recorded / disabled is basically the browser history page -- it disables / enables your browsing history to be stored in the browser history. It doesn't affect tab forward / backwards. It doesn't affect cookie blocking. Third party cookies are always blocked by default.
Data delete on close is basically site session data e.g. cookies that may log you in are not deleted upon close. It's useful if you like to stay logged into sites when you open the browser. It's useful to delete data on close if you like to delete all cookies and such so you start fresh each time you re-open the browser.
You can also use Incognito windows when you want all data deleted on close of the window / browser, and leave data deleted on close unchecked for the "regular" browser.
Hope this helps and makes sense.
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