When you click the IPSets section from the navigation bar, the list of available IPSets can be seen. From this section, you can create a new IPSet by clicking the Add New IPSet button. There are two fields in this form. The first part of the form determines the name of the IPset, and the second determines the algorithm to search the IP addresses in the IPSet. The hash:ip algorithm is generally used for the search algorithm.
When you navigate to the IPSets section from the main navigation bar, you can edit one by clicking the icon in that IPSet's box. You can delete an IPSet by clicking the button next to it.