Best table design for application configuration or application option settings?

Question

I need to store a series of configuration values in a database. A couple ways I thought of to store them are: a table with 2 colums(name,value) and a row for each pair, or

Answer 1

CREATE TABLE Configuration (
    Name ...,
    Value ...,
);

The best way. Adding a column to a table usually sucks, and what's the point of a table with one row?

Not sure this is appropriate for SQL, but alas...question answered.