Beautiful photograph, but what is the red and blue flares?

Lens flare I guess from the candles.

Great! Great! Absolutely great! I love it!!!

Great shot, though would like to see it without the star bursts

Wonderful! I personally like the star bursts.

Would it be too much to ask what settings you used to shoot this?

Not at all....
F:22
iso 50
93.5 sec exposure!

Since I am new at this and recently got a new camera, please tell me how you know that. Is it on the camera when you take the picture or is it a setting you adjust to those numbers?

It depends of how you want you photo to be.In this case i used f:22 for two reasons.
First,to have the maximun dof posible (all the subjects on my composition to be in focus).That means that even if the book & glasses are in the foreground & books/candles are in the background,everything is in focus with no dof.Using f:22 all so creates the "star" ffect on the candle light.Most cameras have the A mode (aperture mode)that adjusts the sutter speed depending the f number you use.I mostly use M (manual mode) to adjust eveything on my own.

author, thanks for explaining what you did in detail...I find it fascinating. Great photo.