Respected:
* respect: This is the base word, meaning "to have a high opinion of." It's a free morpheme, meaning it can stand alone as a word.
* -ed: This is a suffix indicating the past tense. It's a bound morpheme, meaning it must be attached to another morpheme.
Therefore, "respected" has two morphemes.
Respectable:
* respect: Again, the base word.
* -able: This is a suffix indicating "capable of being" or "worthy of." It's a bound morpheme.
Therefore, "respectable" also has two morphemes.