In this tutorial Walter Biscardi shows us how to avoid losing your favourites when you have to trash your preferences.

As we described in our article "The Top Ten FCP Technical Errors" trashing your prefs is the first course of action if your copy of FCP is acting strangely or in some cases not even opening! This does reset everything though and you will lose any custom favourites you might have saved. This tutorial from Walter shows us how to save those favourites for use another time.