
die Achtung
respect
A feeling of respect, appreciation, and recognition toward a person, an achievement, or a thing.
Er genießt hohe Achtung bei seinen Kollegen.
He enjoys great respect among his colleagues.
respect / attention
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respect
A feeling of respect, appreciation, and recognition toward a person, an achievement, or a thing.
Er genießt hohe Achtung bei seinen Kollegen.
He enjoys great respect among his colleagues.

Attention!
An exclamation or sign that serves as a warning or calls for attention.
Achtung, Stufe! Bitte seien Sie vorsichtig.
Attention, step! Please be careful.

to disregard
To fail to take something into account, ignore it, or neglect it.
Bei deiner Planung hast du einen wichtigen Punkt außer Acht gelassen.
In your planning, you disregarded an important point.
'Die Achtung' is the noun corresponding to the verb 'achten'. The verb can mean both 'respektieren' (to respect) and 'aufpassen' (to pay attention/be careful), which explains the different meanings of the noun.
Man sollte die Regeln achten und ihnen Achtung schenken.
One should respect the rules and show them respect.
You can recognize the meaning from context: As the exclamation 'Achtung!' it is a warning. In the expression 'außer Acht lassen' (to disregard), it means 'ignorieren' (to ignore). In combination with verbs like 'haben' (to have), 'genießen' (to enjoy), or 'zollen' (to pay/show), it means 'Respekt' (respect).
Er hat große Achtung vor seiner Lehrerin.
He has great respect for his teacher.
When 'Achtung' means respect, it is often used with the preposition 'vor' and the dative. Typical verbs are 'Achtung haben vor' (to have respect for), 'jemandem Achtung entgegenbringen' (to show someone respect), or 'Achtung zollen' (to pay respect).
Ich habe große Achtung vor seiner Leistung.
I have great respect for his achievement.
As a warning, 'Achtung!' is often used on its own as an exclamation or on signs. It is always accompanied by an exclamation mark.
Achtung! Hier fahren Züge.
Attention! Trains pass through here.
The expression 'außer Acht lassen' (to disregard) is a fixed phrase. The object that is being ignored usually comes in the middle of the expression.
Wir dürfen die Kosten nicht außer Acht lassen.
We must not disregard the costs.
respect
Both words describe an appreciative attitude toward a person or achievement. „Respekt“ can additionally express recognition of authority, difficulty, or possible danger, while „Achtung“ often sounds more like deep esteem. Use „Respekt“ for impressive strength or authority and „Achtung“ for special appreciation.

Für ihre jahrelange Arbeit genießt die Forscherin die Achtung ihrer Kollegen.
The researcher enjoys the respect of her colleagues for her many years of work.
Vor der schwierigen Aufgabe hatte ich großen Respekt, aber ich nahm die Herausforderung an.
I had great respect for the difficult task, but I accepted the challenge.