Important Egyptian cultural practices include: mummification and the burial of the dead, veneration of ancestors and spirits, and veneration of royalty.
Our sense of Egyptian culture (and any ancient culture) is greatly skewed due to the fact that our main way of accessing that culture is archaeologically. Archaeology, with its emphasis on cultural artifacts that stand the test of time, limit our ability to know what everyday life may have been like for the Egyptians.
We do know that royalty and other wealthy individuals were buried with most of their earthly belongings, and hieroglyphs walls and papyri strongly suggest that the ancient Egyptians believed in an afterlife scenario akin to modern-day heaven and hell.
People paid respect to Pharaohs by commissioning pyramids and other architectural feats for them. It is likely that ancestors played a big part in Egyptian cultural practices as well.