Setting up encryption on your wireless router is one of the most important things you can do for your network security, but your router probably offers various different options — WPA2-PSK (TKIP), WPA2-PSK (AES), and WPA2-PSK (TKIP/AES) among the alphabet soup. How-To Geek explains which one to choose for a faster, more secure home network.
In essence, TKIP is deprecated and no longer considered secure, much like WEP encryption. For optimal security, choose WPA2, the latest encryption standard, with AES encryption. (If your router doesn't specify TKIP or AES, the WPA2 option will probably just use AES.) However, if you have old Wi-Fi devices that aren't compatible with WPA2, you can use the TKIP+AES or "mixed" mode option if it's available on your router.
For more details on each Wi-Fi security option, head over to How-To Geek's explainer.