Favored, a.
1. Countenanced; aided; regarded with kidness; as, a favored friend.
2. Having a certain favor or appearance; featured; as, well-favored; hard-favored, etc.
Shades of meaning
Fernald has no entry of its own for favored; he lists it under fortunate.
Where he writes about it:
Lucky is the more common and colloquial, fortunate the more elegant word; fortunate is more naturally applied to the graver matters, as we speak of the fortunate, rather than the lucky, issue of a great battle; lucky more strongly emphasizes the element of chance, as when we speak of a lucky hit, a lucky guess, or of one as "born under a lucky star." Favored is used in a religious sense, implying that one is the object of divine favor. — from fortunate