In the Favorite links section from the Navigation Pane you can create shortcuts to folders or drives. Windows Explorer already comes with a few personal folders like Documents, Pictures, Music etc.

If you click on More you’ll find the Recently Changed and Searches links.

Recently Changed link offers access to a chronological list of files that have been recently modified. Through the Searches link you can conduct predefined searches like Recent E-mail or Shared By Me.

A click on Public will take you to a list of public folders, which can be accessed by all users.

If you wish to add a folder to your favorite folders, just drag & drop the folder to the Favorite links section. If you want to remove a folder, right click on the folder and choose Remove link.