I'm not sure how to do this myself and I don't have one to test for you. In this case you might be best contacting Archos technical support as they can probably tell you straight away.
To add a song, select ‘Music’ from the main screen and then select Title. Once you see the song you want to add to your favorites list, press and hold the volume + button. A small menu will appear on the screen. Select “Yes” to add the song to the favorites category.