cherish (verb):
1. to love, protect, and care for someone or something that is important to you:
Although I cherish my children, I do allow them their independence.
Her most cherished possession is a 1926 letter from F. Scott Fitzgerald.
Freedom of speech is a cherished (= carefully protected) right in this country.
2. to keep hopes, memories, or ideas in your mind because they are important to you and bring you pleasure:
I cherish the memories of the time we spent together.