With regards to Farage - it's a difficult one.
Already, there are many who decry the Honours system when they feel that awards are given to those who do not deserve it (sports stars, musicians and actors etc), but by and large the resentment is pretty transitory, because those awarded are not controversial figures.
However, if Farage were to be awarded, with the vote for leave/remain being fairly evenly split (49/51), the message to half the country would be "You lost the vote, and just to rub it in we're going to knight the bloke who has done this to you."
I don't think that this fair on Farage, because as much as people may disagree with him, his followers and his party - he did achieve something that has fundamentally altered British politics.
However, I think the sensible thing to do is wait until we are out of the EU for a few years. If economy grows and the after effects of leaving are largely positive, then the argument against Farage being knighted will grow weaker and weaker.