If your preferences come from an object don't store the serialized object in your DB. It means you won't be able to restore prefs in a few weeks because your object has changed !
My solution is to create a table prefs table that stores all pref names : colour, name,... Then a user_prefs that store the prefs for each user :
prefs = id, name
user_prefs = user_id, pref_id, value
Then the solution depends of what your preferences are. How complex they can be.
JM. Molina