I think one of the better ways to honor them is to pass on the lessons learned, the stuff they taught you.
My Dad once taught me to learn from other peoples mistakes, he said it was often the least painful way to learn a lesson.
The youngsters now on days aren't much for listening. I guess some lesson have to be learned the hard way, but stupid shouldn't be fatal. You can tell them, but you can't make them listen. If you teach them, you've done your part.