The favorites bar toolbar is turned on by default, and works like the bookmarks bar in a web browser does. You can use drag-and-drop to add folders to the bar and reposition them. To go to a favorite folder from the bar, simply click it. You can rename them or remove them via the right-click context menu.

Just like a web browser's bookmarks bar, the favorites bar shows a particular branch of your complete favorites list. The Other Favorites dropdown menu on the right shows you your full favorites list (minus the favorites bar folder, by default), and has links to edit it in Preferences.

The Quick Access dropdown has hard-coded links for several useful folders - your user profile directories, your drives, and special system folders like This PC and the Desktop.

If your turn off the Favorites Bar toolbar, a dropdown menu button will appear on the Location Bar toolbar by default.

This provides access to your favorites list without needing to have the favorites bar toolbar open. Note that unlike the Other Favorites dropdown, the list it shows includes the favorites bar folder.

If you use the Add to Favorites command from either of the dropdown menus, the Add to Favorites dialog appears. This lets you add the current folder to your favorites list, and lets you provide a name for it and choose which branch to put it in.

In both the favorites bar and the drop-down menus, favorite folders shown in this menu can also be used to copy or move files to by dragging a file and dropping it directly onto them. You can also right-click favorites to display the context menu for that folder.

Favorite folders can be displayed in the Folder Tree by turning on the Favorites item on the Folder Tree / Contents Preferences page.

You can add, rename, delete and rearrange your favorite folders at any time using the Favorites List page in Preferences.