To Change the favicon Images open SharePoint Designer and Select the master page to set custom favicon Image. Add favicon image in default favicon location (C:\Program Files\Common Files\microsoft shared\Web Server Extensions\15\TEMPLATE\IMAGES in SharePoint 2013 or C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\14\TEMPLATE\IMAGES in SharePoint 2010).
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Editing FAVICON in Sharepoint 2013
