Here are some other related words:
* Éloge (formal praise, eulogy)
* Compliment (compliment, praise)
* Félicitations (congratulations)
* Applaudissements (applause)
* Admiration (admiration)
* Récompense (reward, recognition)
You can use "louange" in a sentence like:
* Il a reçu beaucoup de louanges pour son travail. (He received a lot of praise for his work.)