Open Internet Explorer, then click File > Import and Export and the Import / Export Wizard should start, Arthur. Follow the steps to Export Favorites to a file, say on your desktop, then copy it to a floppy disc, or simply browse to your floppy disc drive from the Wizard, and save the Favorites directly to it. You can also save them to CDs, of course, but most people can fit theirs on a floppy.
To get the favorites back, use the Wizard again, to reverse the process. Hope that helps.