It will be helpful to give identity for the website. The visitor will easily recognize the website by seeing the favIcon.
Refer the below screenshot which explains the FavIcon in the browser.
We can generate this favicon using some online FavIcon Generator by giving our logo or any other image as input for this favIcon Generator.
This generated should be uploaded to the root of the website and it needs to be included thro' link tag in the webpages.
If you are not having access to the root folder of the website, then you can place the .ico file in some other path and then you should specify the path using below code. This code should be included within head section of the webpage.
<link href='path of ico file' rel='shortcut icon' type='image/x-icon'/>