FavIconizer proves useful if you use Internet Explorer for browsing the web. FavIconizer will scan all links you have in your favorites and check if the website has a FavIcon. If it has one, FavIconizer will download that icon and adjust the link in the favorites to use that.
The application proves useful in the situatuion that the icons get replaced in the favorites with the standard web icon (because the Microsoft Internet Explorer stores them in the web cache which gets cleaned up according to your settings, usually after a few weeks).
When FavIconizer has finished it's work you will have all of your favicons back.