I briefly used one of those small one strap sling backpacks to carry my pistol, wallet, etc, and I hated it for riding. I tried to wear it in the front, and it was always bumping against the fuel tank. If I wore it on my back it would end up riding against my hip.
Given the choice between a sling and a small two strap backpack, I'd opt for a backpack.
Given the choice between a sling and a small two strap backpack, I'd opt for a backpack.