Generate a new set of User Files folder.
To do that please go to Utilities | Copy user Settings | Create a clean set of user files from the base installation.
Note that you will lose your personal settings.
With Toad for Oracle closed, one can manually move the following files into the newly created Toad for Oracle version folder, i.e.
C:\Users\<user>\AppData\Roaming\Quest Software\Toad for Oracle\<version (n)>
Where (n) is the last backed up folder
Connections.ini
Connectionpwd.ini
Savedsql.dat