AM-DeadLink. With this freeware program, you can check your favorites and
delete links with errors.
When the program loads it will look at your bookmark file and tell you
how many links you have.  Hit f9 to check bookmarks. The program will try
to check each bookmark, so, depending upon how many bookmarks you have,
it could take 5 minutes or so. On the status line, you can press insert
numpad 3 and you are told which link the program is checking. When you are
finished the status line will say done.  Then you can go to the bookmark
menu with alt B and enter on sort which puts the ones with errors at the
top. You can arrow up and down the list of links, and delete them one at
a time with the delete key, or select a few and delete them with one press
of the delete key. You can perform other actions upon a link by pressing the
windows application while focused on a link for the options.  One option is
open in browser.  Go to the options menu with alt O and if use internal 
preview is checked, enter on it to uncheck it.  This way when you open 
a link, it will open in IE and you can alt f4 to close the web page and be
returned to the list of favorites in the program.