In Internet Explorer, click on “File” (top left-hand corner of screen,) select “Import and Export” and select “Export My Favorites” from the choice of operations you are given. The favorites folder this operation generates can be installed on another computer by following the same process, only choosing “Import My Favorites” instead of “Export My Favorites.” The English wording might be slightly different - I am translating it from my computer’s Chinese interface.
Plenty more advice available - Click here. You can perform export/import operations with Outlook Express, too - See http://www.segue.com.tw/3/viewtopic.php?t=7879.
(p.s. I’m using IE5 on Windows 98 - I have tried higher versions of IE but had problems with them - especially IE6. IE5 does everything I need it to do, so I’m sticking with it from now on.)