I use firefox as my browser and I love being able to have one internet page open, but I can open new pages in tabs.
Firefox call their "favorites' bookmarks - I am not sure if there is anyway to move your IE ones to Fire Fox
I have never been able to find a bookmarks folder on my pC or mac, it was fine with IE and favourites because it created a folder on your PC.
Saying that I never have time to look.