I have added a feature to my File History add-in which allows you to bookmark files and folders. On both the Recent Files and Recent Folders menu, you will see new "add" buttons as below (Add Active Workbook to Bookmarks and Add Active Workbook Folder to Bookmarks in the case of Recent Folders)
Once a workbook or it's folder is bookmarked, a new menu item appears named Bookmarks. You can move their position and delete them if necessary by selecting Edit Bookmarks.
For lots of bookmarks, or those with long paths, you can resize the form by dragging it on the right or bottom. (The cursor will change shape and a tooltip will appear)
Open the bookmarks themselves the same way as the files in Recent Files and folders in Recent Folders, just click on them.
It's a big timesaver. Here is the download link :-)