Exit Steam
 Open your Steam folder
, and then find and open the /userdata/
folder (the default directory should be C://Program Files/Steam/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.
 Within this folder, locate and open the /config/
 Finally, from here, delete localconfig.vdf
, and then restart Steam
The "fix" posted here
does not work. The fix above is the only known method at this time.