Internet Explorer:
file--> import/export
from here you can export both your favorites and cookies to html docs.
Outlook (2000 is what I have, may not work for Express):
file--> import/export
choose "export to a file"
choose "personal file folder (.pst)"
from here choose the folders in Outlook you want to export, or choose the main heading "personal folders" to export everything. Make sure to checkmark "include subfolders"
After reinstalling importing is just the opposite, however I know for a fact that your IE favorites will come out all jumbled up, sorry but you will most likely have to re-order them.
Hope this helps.