To create a new Bookmark, first switch to the Bookmark application by clicking on the gray Bookmark tab, then click on the "New Bookmark" command, or, better yet, click on a folder name and click on the small New Bookmark command that appears right under the folder name.
You then can specify a name, such as "Best Kalamazoo weather info", and a Link, such as "www.weather.com/MI/kalamazoo" and then give a save command.
Sharing: You also have the option of setting the "Share With" controls at this point - if you put a friend's account name into the Username box, then this friend will be able to access your bookmark whenever they Visit you.
Bookmark Folders: When a bookmark is saved it is saved in the folder indicated in the folder pull-down titled 'Save in this folder' in the top left corner of the editing box.
To change the folder a bookmark is stored in, select the another folder name from the folder pull-down list:

It's easy to change the folder the bookmark is assigned to at anytime by using the 'Save in this Folder' pull down when you are editing the bookmark.