Some common English words came from the practice of bestowing knighthood. The most obvious of these is dub. The monarch dubs a man a knight by tapping his shoulder with a sword. A member of the clergy can be knighted but is not dubbed, however, because the use of a sword is considered inappropriate in these situations. More commonly we use the word for other purposes, such as when referring to someone being given a nickname. The word dub can also have different meanings, such as when a movie soundtrack is translated into a different language or in golf or percussion. Some of these terms may have different sources, however.
Another word is accolade, originally from a French word meaning to embrace. The English used the word to refer to the bestowal of knighthood. Now almost any type of award or expression of approval can be called an accolade..
To take knighthood away from someone is termed degradation, a word now used in the fields of chemistry and geology, as well as when anyone or anything declines in condition or quality.