Or you could simply reply, thank you (for the compliment) or laugh it off. Your sentence is a bit narcissistic, but true and honest. What they do is promote backward societal thinking. Lying to be humble and being "humble" as to keep within (retarded) rules you (they, whoever) set down is honestly retarded, offensive to the person praising you and dislikeable.
Would you praise someone for something normal but admirable if they shut you down one or more times with the sentence "you are overpraising me, it is nothing"? No, cause it mocks/attacks everyone else who can't do that "nothing" and doesn't have very high selfesteem
my own opinion (and if you didn't notice, this is a little rant since I am also bothered by it)