If the Favorites are inside a folder on the floppy, open the folder, then click Edit, click Select All, and right drag the highlighted files to the Favorites folder in XP....let go, choose COPY HERE.
If they aren't in a folder, just open the floppy disk contents, and follow the same instructions.
I saved the favorites on my old computer to a floppy. I'm not how to move them to my XP's Favorites folder. Can you help? Thanks, grandpaw