Ooh! This is actually an interesting question! First I'll write a sentence using each one, and then I'll try to write out simple explanations for them.
We went to our respective houses.
That is a very respectable action.
He is respected in his community.
Be respectful to your elders!
Okay. Now for the explanations. I'm making this, like I just said, very simple. If I went into really detailed grammar rules, I'd probably lose you, and it's best for you to have a natural ear for a language anyway (as opposed to mechanically applying rules to your speech).
"-ive" refers generally to direct (usually possessive) objects. It's used to distinguish between several objects that are owned by different subjects. Hence, when I say, "We went to our respective houses," what I mean is, "I went to my house, and they went to their house."
"-able" refers to a noun's capacity for being whatever the adjective defines. It's literally ABLE to be that word. So when I say, "That's a very respectable action," I mean, "Your action is capable of being respected."
"-ed" refers to a noun's quality. Unlike "-able", where the modified noun is able to be seen as something, "-ed" means that it literally IS something. So when I say, "He is respected in his community," I mean, "He is a man with respect in his community."
"-ful" refers to how a noun acts. It is literally "full" of whatever verb the adjective is based off of (and is thus interchangeable with that verb). So when I say, "Be respectful to your elders," I am saying, "Respect your elders."
I can simplify it even more if you are confused; just tell me to do so and I'll try my best.