If you dislike the Favorites and Libraries entries in the Navigation Pane of Windows Explorer, you can remove them with a registry edit or create .reg files from each of the four parts below to remove or restore as needed.

Remove Favorites

Windows Registry Editor Version 5.00

[HKEY_CLASSES_ROOT\CLSID\{323CA680-C24D-4099-B94D-446DD2D7249E}\ShellFolder]
"Attributes"=dword:a9400100

Restore Favotites

Windows Registry Editor Version 5.00

[HKEY_CLASSES_ROOT\CLSID\{323CA680-C24D-4099-B94D-446DD2D7249E}\ShellFolder]
"Attributes"=dword:a0900100

Remove Libraries

Windows Registry Editor Version 5.00

[HKEY_CLASSES_ROOT\CLSID\{031E4825-7B94-4dc3-B131-E946B44C8DD5}\ShellFolder]
"Attributes"=dword:b090010d

Restore Libraries

Windows Registry Editor Version 5.00

[HKEY_CLASSES_ROOT\CLSID\{031E4825-7B94-4dc3-B131-E946B44C8DD5}\ShellFolder]
"Attributes"=dword:b080010d

Posted by Noel Carboni here (I created the .reg files from his info):
Remove Favorites, Libraries, and Homegroup from Navigation Pane

Also in Noel's post, how to get rid of HomeGroup if it appears there as well.

Good info