[2] Open your Steam folder, and then find and open the /userdata/ folder (the default directory should be C://Program Files/Steam/userdata/).

[3] /userdata/ should only contain one folder within, named by a random string of numbers. I can't tell you what yours will be, as it is different for each user.

[4] Within this folder, locate and open the /config/ folder.

[5] Finally, from here, delete localconfig.vdf, and then restart Steam.

NOTE: The "fix" posted here by Valve does not work. The fix above is the only known method at this time.

