What's a favicon anyway?
Favicons or page icons are icons associated with a certain website. As you can see from my favicon, you can see an edited picture of myself located next to the address of my website. This gives it a personal look. When you go to the main page of Blogger, you can see it's orange icon next to the address.
Although some sites offer a paid service to make your favicons. I've stumbled on a free service. Visit the site here
HTML Kit is a site for web developers that offer not only favicon from pics service but other services too like online image splitter, buddy icon from pics, and more. With a few clicks, I got my favicon up and running for my site. You should try it. It's easy and quick.
Just choose an image from your computer then click generate favicon. That's about it.
Once you have made your icon from the site, a zip folder will be available for download containg the image of your icon. This folder also contains a readme file that provides intructions on how you can put this on your blog. Then, you incorporate thefavicon.ico file on your blog template between the of your template. And there you have it, a favicon just for your blog. Good Luck!