This information applies to Windows Internet Explorer 8.
The Favorites bar is the new name for the Links toolbar that was in previous versions of Internet Explorer. Just as before, you can drag web addresses from the Address bar to the Favorites bar, but now you can also drag links from webpages you are viewing. In addition, you can use the Favorites bar to monitor RSS feeds you've subscribed to, and to store your collection of Web Slices. Web Slices are specific bits of web content—such as the temperature outside, or the price on an auction item you're watching—that you can add to the Favorites bar. The appearance of the Web Slice on the Favorites bar changes to notify you of changes to the web content, so you can stay up to date with the most current information.