755 = read and execute access for everyone and also write access for the owner of the file
700 = only owner can read, write to, or execute
1- Owner (you)
2- Group (a group of other users that you set up)
3- World (anyone else browsing around on the file system)
Each digit of this code sets permissions for one of these groups as follows. Read is 4. Write is 2. Execute is 1.
The sums of these numbers give combinations of these permissions:
0 = no permissions whatsoever; this person cannot read, write, or execute the file
1 = execute only
2 = write only
3 = write and execute (1+2)
4 = read only
5 = read and execute (4+1)
6 = read and write (4+2)
7 = read and write and execute (4+2+1)
So I'm assuming 700 is the better of the two?