Question

distinguish between history and favorites

Answer 1

history is the study of events that occured in the past.
favourites mean which you like more.

Answer 2

History list organizes the list of webpages that are visited over a period of time by category. History List contains the URLs for the websites and page that visited through internet explorer browser. The history will save the list of webpage urls by Today, Yesterday, Two weeks ago and Three weeks age and so on to easily find the date and URL of the visited page on that particular date.

whereas Favorites saves them like if you click add to favorites in the options with the particular webpage open; then it adds the website you are currently browsing to your favorites list.