favoured vs favourite

favoured is not a noun while favourite is a noun.

Word	Noun	Adjective	Verb	Adverb
favoured	No	Yes	No	No
favourite	Yes	Yes	Yes	No

As adjectives, favoured and favourite are synonyms defined as:

favoured and favourite: preferred above all others and treated with partiality

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

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

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

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