Where is favorites folder in windows 7

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My Documents shows the location where Windows saves documents by default when you save them from an application such as Microsoft Word. The drive on which Windows is installed is usually displayed as the C: drive when you double-click on My Computer to open it using Windows Explorer. My Computer shows you a list of all the drives installed on your system, including floppy drives and USB drives. You may already have some shortcuts on your desktop that point to locations on your hard drive you will frequently use with Windows Explorer, such as My Computer and My Documents. You can also right-click on a folder and select Explore to open that folder using Windows Explorer. Windows Explorer is automatically launched any time you open a folder in Windows XP. Windows Explorer can be used to navigate your hard drive and display the contents of the folders and subfolders you use to organize your files on your hard drive.

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Windows Explorer is the file management application in Windows.