Step 1: Combine the logs.
Using $\log_a m+\log_a n=\log_a(mn)$, the left side becomes $\log_2[(x-1)(x+1)]$. So the equation is $\log_2[(x-1)(x+1)]=3$.
Step 2: Simplify the product.
Note $(x-1)(x+1)=x^2-1$. So $\log_2(x^2-1)=3$.
Step 3: Convert to exponential form.
A log equation $\log_2(A)=3$ means $A=2^3$. So $x^2-1=8$.
Step 4: Solve the quadratic.
Add $1$ to both sides: $x^2=9$, so $x=3$ or $x=-3$.
Step 5: Check the domain.
Logs need positive insides. We need $x-1>0$ and $x+1>0$, so $x>1$.
Step 6: Reject the bad root.
The value $x=-3$ fails $x>1$, so we throw it out. Only $x=3$ survives.
Step 7: State the answer.
\[ \boxed{3} \]