Internet bookmarks is a way to "mark or record" a website that you have found useful. Every major web browser, such as IE, Firefox, Chrome, Opera, etc. off an option to store your favorites in a specific menu designed to organize and categorize them into groups and folders.
Internet bookmarks are often called Favorites. There is no difference between bookmarks and favorites. Favorites is a term that specifically refers to the Internet Explorer web browser and the term bookmarks is used by other browsers. Although the technical result of using a bookmarks is identical regardless of which browser you use, the method used to store / save the bookmarks differs between web browsers.