If you regard someone or something as being a particular thing or as having a particular quality, you believe that they are that thing or have that quality.
If you have regard for someone or something, you respect them and care about them. If you hold someone in high regard, you have a lot of respect for them.
Regards are greetings. You use regards in expressions such as best regards and with kind regards as a way of expressing friendly feelings towards someone, especially in a letter.