Honours damsel in distress (6)
I believe the answer is:
medals
'honours' is the definition.
(medal is a kind of honour)
'damsel in distress' is the wordplay.
'in distress' indicates an anagram.
'damsel' is an anagram of 'MEDALS'.
(Other definitions for medals that I've seen before include "Military decorations" , "Metal discs given as awards" , "Small metal discs as awards - think Olympic games" , "Gongs" , "Awards for damsel" .)