Duplicate Applications Folders

[DMKMD]

When using finder to access applicatons, I found that there are 2 discrete folders which are not accesssing the same applications. If I look under my name, there is one application folder. Under the list of places seen in finder, there is another similar folder. They do not, however, always contain the same applications. In addition, when selecting certain applications from the dock, like photoshop, it states that the location has changed and asks to repair the link but does not actually repair it. The program does eventually launch. How did this happen and how do I correct it so that there is only 1 folder with all the current applications connected to the shortcuts on the dock?
Thanks in advance for any insight.

 

[spinnerlys]

The standard application folder in Mac OS X is located at "Macintosh HD* / Applications". The link in the Sidebar normally links to there, use the "Show Path Bar" feature in Finder to see it for yourself.
Adobe normally installs an Applications folder in your Home folder, though it does not seem to use it.
To repair the links on your Dock, just remove the applications and add them again.

* "Macintosh HD" is called "Mac OS X SSD" in the following screenshot