what is the difference between 가장 and 제일 ?
They both mean best don't they?
Are there any other ways?
How do you say favourite?

Question

Answer

Yes, both are interchangeable in most cases only if "제일" is used as an adverb in a sentence, and "가장(adverb)" is native Korean while "제일" is Sino-Korean meaning "제일" is a bit more formal.
Also, we've got "최고" for the meaning of "best"

"favorite" can mean "좋아하는 것" or "좋아하는 사람" as a noun.

\^o^/

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