(pronounced Favored) is a service that channels the most "favorited" tweets on Twitter. You can search by keyword and also see who else has favorited a particular tweet in order to identify like-minded contacts.
An early twitter starring site, Favrd is showing its age and exclusivity. It refreshes often which encourages a self-perpetuating hierarchy of popularity castes. It collects all stars for older (pre-2009) users, but far less stars for newer users. Its developer is non-responsive, bans users who offend him or others in his inner circle. Favstar is open, public and egalitarian. In comparison, Favrd is a privately run elitist sham. Avoid it.
Favrd is awesome. Understand that it's not a tool for analytical favourite tracking, nor will it give you a full picture of people's love for your own posts. Instead, it's a tool for discovering only awesome tweets.
By design, it doesn't track everybody and it doesn't count everybody's faves either. It excludes webcocks like Michael Arrington (seriously, try viewing his user page on Favrd and savour the white-space), and it discriminates against the likes The Jonas Brothers, making it a better discovery tool for quality tweets; no chaff.