best-loved vs favoured

best-loved and favoured both are adjectives.

Word	Noun	Adjective	Verb	Adverb
best-loved	No	Yes	No	No
favoured	No	Yes	No	No

As adjectives, best-loved and favoured are synonyms defined as:

best-loved and favoured: preferred above all others and treated with partiality

Other synonyms of best-loved include favored, favorite, favourite, pet, preferent, preferred.

best-loved (adjective)	favoured (adjective)
preferred above all others and treated with partiality	preferred above all others and treated with partiality