favored vs favorite

favored is not a noun while favorite is a noun.

Word	Noun	Adjective	Verb	Adverb
favored	No	Yes	No	No
favorite	Yes	Yes	Yes	No

As adjectives, favored and favorite are synonyms defined as:

favored and favorite: preferred above all others and treated with partiality

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

favored (noun)	favorite (noun)
	something regarded with special favor or liking
	a special loved one
	a competitor thought likely to win

favored (adjective)	favorite (adjective)
preferred above all others and treated with partiality	preferred above all others and treated with partiality
	appealing to the general public

favored (verb)	favorite (verb)
	To mark an item as a personal favorite on social media