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Didn't Internet Explorer do that? It was just the "Favorites" folder c:\users\username.

MSIE did this, at least through the early aughts, as the "Favorites" folder/directory.

(I've not used it since then.)

In Firefox, it's an SQLite database in the profile folder, readily accessible by normal SQLite tools. The profile folder is accessible through the Help menu, if you don't like to dig for it in a file manager.

You can also export them to json from the bookmark manager, I do that semi-frequently so I can "spring clean" my bookmarks. My old ones are still backed up and can easily be grepped with no external tools if I need them.

Firefox/Netscape used to do that.