Dear candidate, graduate degree and honors degree has not much difference. In honors degree you study each and every topic in detail. You can think of it as a specialization in that subject. On the other hand graduate degree just focus on few concepts that are just from exam point of view. You hardly study the topic in detail. Honors degree focuses on complete and thorough study in detail whereas this deep study is missing in graduate degree. If you will apply for job, then one with honors degree will get an edge over the person with normal degree.

Hope, it helps!