On the General tab, find the Launch Options field.
Type or paste the option (e.g. -windowed) into the field. To use several at once, separate them with spaces (e.g. -windowed -novid).
Close Properties. Steam saves automatically, and the option applies next time you launch the game.
To remove one, reopen the same field and delete the text. Options are game-specific; an option that helps one game may do nothing (or misbehave) in another.
Worth knowing: a launch option can break a game's rendering, reset local settings, or trip anti-cheat in multiplayer. Read the description first, add one at a time, and treat anything rated above Safe as a deliberate experiment.