reduce trackpad sensitivity when typing (MacBook Pro w/ Retina)

When I type on my MacBook Pro, I tend to rest my palms near the trackpad - and sometimes they end up touching the trackpad directly.

As a result sometimes I end up moving the mouse around while typing. The worst is when it ends up highlighting text I've already typed, then I end up typing over it. This happens a lot.

How can I reduce the trackpad sensitivity to touch? On Dell computers the mouse utility actually lets you adjust this. It's a setting like "TouchGuard" or something, and if you turn it up this problem won't happen, though there will be a noticeable delay when you try to actually use the mouse.

I cannot find any similar setting on my MacBook Pro. Maybe there's a 3rd party utility?

In the System Preferences/Trackpad, you should be able to adjust the settings for your trackpad.