 Honing (superfinishing) is a way of creating fine surfaces, a method very similar to grinding.
Honing (superfinishing) is a way of creating fine surfaces, a method very similar to grinding. 
Compared to grinding, the hone (honing stone) is abrasive. Therefore the hone is quickly worn out. Which material the hone consists of, is dependant on the component. 
Grinding machines are normally very stiff, to acheive fine tolerances. On the other hand, honing machines are compliant. The primary target of honing is to create fine surfaces, not fine tolerances. Therefore, fine precision components are often first machined, then grinded and finally honed. 
Honing is a relatively expensive process. It is used primarily for components with particular accuracy demands. Common andvantages of honed components are reduced friction, which leads to lower heat, longer lifespan, reduced vibrations and quiter operations.
Picture: Apperley Honing Ltd
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