Nirsoft has a software called "LastActivityView", which basically grabs all user activities from registry, event logs, etc. http://www.nirsoft.net/utils/computer_activity_view.html
Among all those activities, there is one "View Folder in Explorer". This records time, filename and full path that every time a file is viewed in Windows Explorer, dated back to the day Windows was installed. As the software itself doesn't record these, there must be somewhere these info are stored by Windows Explorer.
However, after a bit google search, I cannot find any useful information on this issue. This is not about address bar history, recent folders or Internet Explorer history.