Two things one should bring to mind when one is praised:
1) "I know myself, and my own shortcomings, better than the one praising me."
2) "Allah knows my shortcomings and the darknesses within my soul better than me and the one praising me."
(As such I know I do not deserve any praise -- all praise belongs to the One Who has concealed my faults from others.)
Two prayers one should implore Allah with when one is praised:
1) "O Allah, please do not hold me accountable to what they think and say about me! For you know my shortcomings dearly!"
2) "O Allah, make me better than what they think and say about me! For you know how far I have yet to go!"