In IE (assuming that are the favorites you are talking about) do File>Import and Export and choose Export favorites. This will put them all in one file, called bookmark.htm. Transfer that file (using any medium you like) and import it in IE on your new machine. That's all.
Or use Windows XP's File and Settings Transfer Wizard. That will transfer other things also (like your mail account settings, address book and all your personal files).
Your question seems to imply you didn't yet BACKUP your favorites on a regular basis (or you would have known how to restore them from your backup). It's definitely advised to make regular backups of every you don't want to lose in case something happens. But that's another story.
Hope this helps.
I have a Windows XP computer and I am planning to purchase a brand new Windows XP computer. Can any one tell me specifically how to transfer all my Favorites intact from my old computer to my new computer and place them in the Favorites tab in my new computer? Thank you very much.