Internet Explorer is the default browser. This means that the browser is used to browse the hard disk and network, read help files, and browse the Internet. What this also means is that Internet Explorer loads much faster than other browsers, and integrates very well with Microsoft applications. There are a few differences. Internet Explorer uses Favorites instead of Bookmarks.
Favorites work the same way as Bookmarks, but they are stored a little bit differently.
Netscape would put all of your favorite links into an html file called bookmark.htm. Internet Explorer will save those favorite links as Internet shortcuts in a folder called Favorites. In the picture above, you can see that your Favorites are available right from the Start Menu. If you already have a long list of bookmarks that you want to keep, bookmarks can be easily converted to Favorites in Internet Explorer by choosing File, Import and Export, and following the wizard that appears. See the picture below to get started.