hi, how can i change text that next to favicon?

Hi,

Go to your edit your menu backend
Click to open "HOME" or whatever name you have given it.
Then, once you open, click on tab "PAGE DISPLAY".
Edit "Browser Page Title"

Also, do not forget to go to your template configuration backend
Extension/template manager/your_template/
Click on advanced tab and edit "Generator Tag"

Hope this helps
Good luck!