To bestow something means to give it formally or ceremoniously, especially when the gift is an honor, title, or special privilege. When a queen bestows a knighthood on someone, she's granting them a title and recognition in a formal ceremony that transforms their social standing. When a university bestows an honorary degree on a scientist, it's publicly honoring that person's achievements.

The word carries a sense of importance and intentionality. You wouldn't say someone bestowed a pencil on you, but you might say a generous donor bestowed a million-dollar gift to build a new library. Parents might bestow a family name on their newborn child, or a grateful nation might bestow a medal on a hero.

Notice that bestow usually flows from someone with authority or respect toward someone being honored. A teacher might bestow praise on a hardworking student, or a coach might bestow the team captaincy on a dedicated player. The word suggests that what's being given has real value and meaning, not just to the receiver, but to everyone watching.