prayed / preyed are similar-sounding terms with different meanings (referred to as homophones). To better understand the differences, see below for definitions, pronunciation guides, and example sentences using each term. 👇
prayed: (verb) address a deity, a prophet, a saint or an object of worship; say a prayer.
preyed: (verb) profit from in an exploitatory manner.
prayed: p·r·EY·d
preyed: p·r·EY·d
(Examples are Wikipedia snippets under the CC ShareAlike 3.0 license. Definitions drawn from WordNet.)