This would be a good place to mention one of my favourite freeware applications,
Am Deadlink:
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AM-DeadLink detects dead links and duplicates in browser bookmarks and text files. If a bookmark has become unavailable you can verify and delete it permanently. Additionally you can download FavIcons for all your Favorites and Bookmarks.
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It can also backup your IE Favourites and FF Bookmarks to a zip file.