If the Favorites menu is missing or grayed out in Internet Explorer, there may be a registry key that is causing it. If you are on a company network, your system administration may have locked this option on your computer. You may have to discuss the issue with your IT department. Otherwise, you can try the following steps:

1. Hold down the Windows key and press R.

2. Type regedit and click OK.

3. Click the plus sign next to HKEY_LOCAL_MACHINE
then Software
then Microsoft
then Windows
then CurrentVersion
then Policies
then Internet Explorer
then click Restrictions.

4. Look for an entry on the right side for NoFavorites, Right-click the entry and Delete it.

If you can’t find any of these registry keys or values, try HKEY_CURRENT_USER instead of HKEY_LOCAL_MACHINE. The value is located in the same folder structure.