For some odd reason the form keeps submitting even though I am returning false. I have tried:
$("#submitEdit").submit(function() {
    return false;
});
$("#submitEdit").submit(function() {
    event.preventDefault();
});
And this is what I currently have:
<script>
$('a').click(function() {
    var parentId = $(this).closest('tr').attr('id');
    var child = $("#" + parentId).children().eq(1);
    var childText = $(child).text();
    $(child).html('<form action="<?php echo URL; ?>user/changeSettings/' + parentId + '" method="POST" id="submitEdit"><input type="text" name="' + parentId + '" value="' + childText + '" /></form>');
    console.log(childText);
});
$("#submitEdit").on("submit", function() {
    var url = $(this).attr('action');
    var data = $(this).serialize();
    alert(data);
    $.post(url, data, function(returned) {
        $(parentId + "Field").html(returned);
        return false;
    });
    return false;
});
</script>