Firefox has the bookmark button instead of Internet Explorer Favorites. The bookmark function is same as Favorites. The bookmark function can be accessed by clicking the "Star" button in the right side of the address bar\URL Bar.

Firefox calls them Bookmarks. http://support.mozilla.com/en-US/kb/Bookmarks

There 5 ways to save a new Bookmark in Firefox:
1. {Ctrl + D}
2. Right-click and select Bookmark this Page.
3. Bookmarks > Bookmark this Page
4. Double-click the Star that is on the right side of the Location bar.
4a. (A single-click on the Star will save the new Bookmark to the Unsorted Bookmarks folder.)
5. Drag the website image in the URL bar into the Sidebar view of Bookmarks {Ctrl + B}
or to the Bookmarks menu bar item and then into the drop-down or onto the Bookmarks Toolbar

Please mark this issue as SOLVED

The Original Poster needs to mark their own thread as Solved - unless the OP posts and says their issue was fixed, I doubt if an Administrator would mark it as Solved. Moderators don't even have a Solved button any longer, it disappeared with the July 2010 forum software update.

@the-edmeister, I have not said you to solve the issue. I saying to the owner of the issue. I also know about Mozilla Forum rules very well. Many of the people don't mark their issues as solved. They just try the tip, see if it works and don't bother about marking the issue solved.