It took four attempts in difficult conditions before Cardigan RNLI Lifeboat Station's Derek Pusey, Leonard Walters and Clive Williams saved them.
They were honoured in the annual St David Awards in Cardiff on Thursday.
The awards recognise the achievements of people in Wales in all walks of life.
Categories include citizenship, culture, enterprise and innovation.
Cyclist Geraint Thomas won the sport award after winning a gold medal in the road race at the 2014 Commonwealth Games in Glasgow.
His parents collected the accolade on his behalf.
Actor Michael Sheen won the international award for his role as a UNICEF UK ambassador.
Three RNLI crewmen have been recognised for bravery after risking their lives to save two men cut off by a tide in a night-time rescue in Ceredigion.