"Like" means that you enjoy using/consuming the object in question, however the inherent connotations of the word "like" do not outweigh those of the word "favor".
Your "favorite(s)" would be items that you would choose over other items, even those that you like. An item you "like" is one that you would choose from a larger set.
Out of all the edible plant matter in the world, I like fruit, however pears are my favorite.
Things that you "like" are items you select from a larger group, and are objects that you prefer over other objects in general, however a "favorite" is an object that you would select from a list of things that you like.
In the example, the set of objects "edible plant matter" refers to fruits, vegetables, berries, herbs, spices, etc. Like narrows down the selection of the larger group to a smaller group, "Fruits".
From the smaller group of "Fruits", I define my "favorite" as pears.
In parallel to your example, that would mean that the group of 5 objects are objects that you like, however the one that occupies slot #1 is your "most favorite", while the one that occupies slot #2 is simply your "favorite", which means that the remaining three can be defined as objects you "like" or "liked objects", or it you want to pare it down further (:D) to a more specific term, use "regard" or "desire".
Object 1 is my Most Favorite, Object 2 is my Favorite, Objects 3, 4 and 5 are my Desires.
Hope this answer wasn't too long, and I sincerely hope this helps.