Q: Settings crashes after iOS 7 upgrade (iPhone 5)

I would try forcing all apps to close per http://support.apple.com/kb/HT4211

Also, when you say crashing does it quit on launch? Or freeze? Any other issues?

As you said a restore is absolutely a possible next step if it becomes a bigger issue. The restore will of course replace the operating system so that is quite likely the resolution here. You should be able to restore from your backup without issue after restoring as new, and experience no further issues.

I hope this helps, but you are spot on already.

Did you restore it or just update it?

I would suggest you restore as new. Then you should be ok to restore from your backup. Its likely the operating system needs to be completely replaced.