I know this has been posted by many people already on different web sites and forums. Still I am posting the Arduino (Atmega168) fuse bit settings, as it appears in AVR Stuido 4 programming interface:
Fuse bits:

Lock bits:

Please remember the programming sequence:
Step one: Flash the appropriate boot loader
Step two: Set the fuse bits
Step three: Set the lock bits
I hope this helps. I myself looked for this information earlier and it was not easy to find them all together.
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