Under a user's My Music, there are three (3) columns for:
a) Playlists - a playlist is created by a user when s/he adds tracks or albums (using "+" icon found on a track or album).
There is an "Edit" function for a user to edit, reorder tracks, delete a playlist and make music metadata changes.
b) Favorites - a favorite is created by a user when s/he clicks on "" to like the album. To remove an album already in Favorites, just click "" a second time.
c) Purchased - a purchased album is created by a user when s/he purchases a download. Unlike playlists and favorites, a user is able to start downloads from purchased albums. See article "I purchased an album download, where do I find and download it?"
Next article: "How to edit playlists added into My Music?"