Honour for being lamed, possibly (5)
I believe the answer is:
medal
'honour' is the definition.
(medal is a kind of honour)
'lamed possibly' is the wordplay.
'possibly' indicates an anagram.
'lamed' anagrammed gives 'MEDAL'.
'for being' acts as a link.
(Other definitions for medal that I've seen before include "Small metal disc as reward or prize" , "Award for winning" , "Decoration for a soldier perhaps" , "(Military) decoration" , "Award for achievement" .)