"Favourites" are the member(s) you are interested in and have added them to your "Favourites List" for easy access to their profile.
Also if you want somebody to not see your profile, not to send any emails and not to send any IM messages you can blacklist the person by visiting his/her profile and click on the blacklist link.
You add your own comment about the blacklisted person behaviours (Only visible to the administration)
When you view a member's profile, you will see the "Add to Favourites" link shown in red on the right side of the member's general profile section. Click on the "Add to Favourites" link, then make a comment about this member (for your information) and click "Add".
If you know the username of the member you wish to add on your list, you can also add them manually under "Favourites". Simply click on the "Add" tab under your "Favourites List", enter the username, comment and click "Add".
Same actions are needed for the blacklisting also.
To view your "Favourites List", click on "Favourites" at the top of your profile home page. You will now see a list of member(s) you have added on this list.