Issue - The Favorites menu option might be missing, and you may not even find the Favorites when you click the Favorites button.
Cause – This issue may occur due to some third party add-ons or IE Tweaks that you install.
Resolution – To resolve this issue, you need to set the DWORD value to 0 for the registry key “NoFavorites” in the below registry path:
HKEY_CURRENT_USERSoftwarePoliciesMicrosoftInternet ExplorerRestrictions
If you are a newbie and don’t want to play with the registry, you can download and run the Raghu’s Registry Tweaks:
To Enable the Favorites menu option and other options- Download
To Disable the Days in History option – Download
Simply download, unzip the .zip files, and run the .reg file. Ensure to take backup of the registry before you run the .reg file.

After installing IE8 ‘My Favorites’ links no longer worked (well, most of them!). I couldn’t replace them because the ‘Add Favorite’ button also failed to open the command, screen just blinked momentarily. Also the ‘History’ tab was missing.
My OS is Visa home premium and IE8 installation was by the MS recommended updates feature. So removal of IE8 was via the ‘view installed updates’ option described above.
Once IE8 was removed IE7 was automatically restored and works normally – Phew.
I refuse to spend hours attempting to get any program to work, it took long enough to revert back.