How does the Watchlist work and how is it different from my other lists?

The Watchlist is the list where you save the movies you want to watch later. You'll find it on the Movies page, and only you can see it when you're logged in to your account. You can also open your Watchlist directly from the account icon in the top right (it only appears once you're logged in) by selecting My Watchlist, in addition to the horizontal row on the homepage. See here how you can add movies to your Watchlist.

The Favorites list, along with any other lists you choose to create, are part of your profile. There you can save and organize movies however you like and share them with the Cinobo community and friends. Learn here more about your lists.