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Log in to your YouTube account, and then click "Playlists." Click "Favorite Videos" to open the list of videos, and then click "Edit Playlist." A column of check boxes appears next to each of the videos in the playlist along with an extra box above the column
Follow these steps to delete a playlist: Click the playlist to highlight it, and then press the Delete key. Alternatively, you can right-click the playlist and select Delete from the pop-up menu that appears. ... Click Delete. If you're having second thoughts, click Keep.