Both features are different, but the purpose is the same. Regarding the favorites feature, you can save website links during visits that are important to you or whatever reasons you want to save any specific website using favorites with just one click. You can save as many as you wish web addresses in your favorites list. However, if we talk about the collections feature. Using this feature, you can save content for later, whether an image, text or an entire webpage, directly in the Microsoft Edge browser.