Adobe Bridge CS3 - Favorites Disappear

Every time I open Adobe Bridge CS3 I set up my favorites folder just the way I want them; but when I close the program down and reopen it, the favorites menu has been cleared.

I tried saving my work space; But this was to no avail.
The work space layout stayed in place but the favorites are still erase when I load the work space.

Also, if it helps to diagnose the problem, when I try to open the preferences Adobe Bridge CS3 immediately crashes.

I've tried deleting the cache folder & I've tried repairing Adobe with the install CD with no luck.

Any help would be greatly appreciated.

Stephen K.