I want to do URL Rewrite of wishlist link to favourites but don't know how to do it if anyone can mention the whole process it will b great.
I really appreciate any help you can provide.
Creating a URL rewrite is very easy, just navigate to "Marketing", then "URL Rewrites", and click the "Add URL Rewrite" button on the top. You will then be presented with the below form, in your case you need to set "Request Path" to
favourites (without a leading slash) and "Target Path" to
wishlist. Make sure "Redirect Type" is set to "No" if you wish to override the URL instead of just redirecting to it.