@dgouttegattat @ScoutFinch You are doing great ScoutFinch! Thanks for your first message and welcome here.
Yes, "fav" was also used on Tw in the past before they replaced it by 'heart/like'. I prefer the nuance of 'favorite' as it can be a way to collect something, or give it a star. "Like" can have deeper implications and personal engagement.
On the web interface, I also have the "bookmark" option under the three dots (under the toot). This is precious for keeping docs for later.