I use active manuka honey with a unique manuka factor (UMF) of 20+ - this is supposedly what gives honey its strong antibacterial properties.
Regular honey is supposed to breakdown into enzymes and helps to dissolve dead skin. The medicinal variety slowly breaks down into hydrogen peroxide (but at a very very low concentration) and can help with acne related problems.
When I can bare it, I sleep with a light layer of honey on the face, my skin is very soft the next morning.