Respect and honor are two words that can be easily confused for each other in the sense that both words are used to show our admiration for something or someone we value so much. However, one of the major differences between the words "respect" and "honor" is that there is a slight difference when it comes to how they are used. As a noun, respect means an attitude of consideration or high regard.
This means your attitude to someone you so much admire. For example I have great respect for John because of the way he handled the whole situation. As a verb, mostly as an intransitive verb, it means to have regard for something or someone.
On the other hand, the word honor also means the respect you have for something or someone of value or importance. However, the word honor also means the state of being noble, morally upright, honest, virtuous. As a verb, mostly as a transitive verb, the word honor means to think highly of someone.