The Collaborative International Dictionary of English v.0.48:

Knight \Knight\, v. t. [imp. & p. p. Knighted; p. pr. & vb. n.
   Knighting.]
   To dub or create (one) a knight; -- done in England by the
   sovereign only, who taps the kneeling candidate with a sword,
   saying: Rise, Sir ---.
   [1913 Webster]

         A soldier, by the honor-giving hand
         Of C[oe]ur-de-Lion knighted in the field. --Shak.
   [1913 Webster]