A list of bookmarks, folders or anything that people want to revisit or reuse often with their application.  For example, favorite websites occupy a more prominent location on a Web browser than other bookmarked sites.  Favorite folders reside at the very prominent top-left side of a Finder window on the Mac or a Windows Explorer window prior to Windows 10.  Starting with Windows 10, Favorites was renamed Quick Access.  See 
bookmark, 
favicon and 
Win Explorer.