In a small saucepan, combine the lentils, water and bay leaves; bring to a boil. Reduce heat; cover and simmer for 20-25 minutes or until lentils are tender. Drain and discard bay leaves. Rinse lentils in cold water.
In a large bowl, combine the lentils, cranberries, walnuts, feta cheese and parsley. In a small bowl, whisk the oil, lemon juice, honey, salt and pepper. Pour over lentil mixture; toss to coat. Refrigerate until serving.