Praise / to praise = Это как комплимент, или какие-то приятные слова, говорящие о чем-то хорошем. Honor / to honor = Это как уважение / чтобы привлечь внимание к чьему-то хорошему поступку. Эти идеи связаны, но немного отличаются. Некоторые примеры: I praise my dog every time he does what I ask. My father praised me when I got good scores on my tests at school. This book has received a lot of praise in the literary community. or The firefighters who saved the children were honored by the city today. You could have the honor of being the first person to visit Mars. There is no honor in profiting from the suffering of other people.

To honor is to commemorate i.e. in honor of my dead father. To praise is to laud and applaud i.e. they sung his praises for winning the gold medal🏅