Where's my favourite song, Opera?

Where does Opera 7.5 store a user's favourites? I searched high and low but couldn't see a trace of HTML except in its cache. I suspect, unlike IE's less-transparent <PATH>Root\Documents and Settings\User\Favorites</PATH>, Opera is more clandstine. I wanna export some of my favourites from Opera to IE.

Reason: From the last 4 days, when Opera's eye, I first eyed, I have since then fallen in love with it. IE stores a large number of my favorites. I like IE's portable file-system arrangement of favourites because I can take backups of my favourites like I backup files and burn a CD. In the last few days of using Opera, I bookmarked a few links. Now I want to move them into subject-wise folders in my IE favourites.