I go away for a while and this thread grows so much Lol, I think I don't need to say anything, @HumanGenius has pretty much summed up everything fantastically.
To whoever the dude was, who said that Toyota is better because they have a bigger line up. If thats your basis for comparing companies, then you need to grow up a bit. All of their 'so called' line-up is basically repackaged crap. Example: Allion=Premio. Platz/Echo/Belta=Glorified Vitz and so on.
When it comes to 4 CYL, sorry but Toyota holds no candle to Honda. Sure they're ahead in V8s, but thats about their only strength. Ask ANYONE who's owned both Toyota and Honda or Lexus and Acura. They'll always prefer the latter (Honda). There simply isn't a comparison, Honda's designs are always unique and atleast a few steps ahead of Toyota.
But yes, one thing is true, Toyota is ahead in terms of 4x4s. But hopefully Honda will catch up soon. So Toyota fanboys need not get upset.
Every car manufacturer has their place in the market. Toyota is the car of the masses, Honda is a car for the masses who like something a little different than ordinary. Both are great & reliable cars but at the end of the day its a matter of personal preference.
To everyone who said Toyota is better, you are yet to provide one technical reason as to why. Its really your personal bias (just like its mine) when you call Honda or Toyota better than the other. Both cater to different segments, both are leaders in their segments.
Honda vs Toyota is a very even match if you stay within the same lineup, sometimes Honda wins, sometime Toyota wins. Its not like Kia VS Toyota or Hyundai vs Honda where the difference is obvious.