You can display all your favorite records, or only for selected modules.
In addition to being able to view or edit the record, the More information button opens a popup with additional details:
You can create dashlets only for selected modules:
Configure the dashlet and filter the module.
That way, you can create, for example, a "Favorite Accounts" dashlet and a "Favorite Opportunities" dashlet.
If you select only one module, you can hide the Module field on the top right of the configuration page.