Malachi, Chapter 1, verse 6
6 A son honors his father, and a servant fears his master; If, then, I am a father, where is the honor due to me? And if I am a master, where is the fear due to me?
To honor someone is to live by the principles they have given us. That is we follow those doctrines whether they are watching us or not, but a servant who fears his master will not live by the values given but will only follow them if they are being watched or if there is a reward.
If you love someone you honor them by being true to them, your trust and faith in them and the principles they give are incorruptible.