You are right that the settings is not the same as the previous one. Don't worry, all who use metamask extension will have to do it again. About the password, you can use the same password if you want. As what in previous post said, setting you made and adding tokens, network and other stuff that you must add manually won't be  set automatically when you import your seed phrase on metamask. Once again, seed phrase only recover your wallet and have access to your crypto and not the settings. Metamask have a feature to sync your metamask but you need the other device to scan the qr code.