When to use "like" and when to use "love"?

I feel that the phrase "I love you" is being used very loosely these days and so can take away from the deep, genuine, and passionate feeling it's meant to express. Guys don't hesitate to tell you they "love you" after a short while. I feel like the way we use like and the way we use love should be interchanged. I was sitting with my best guy friend the other day and accidentally told him I liked him which he took as non-platonic after which I quickly corrected myself and followed with "as a friend" after he said what?!!! in this surprised manner. He tells me he loves me sometimes and I never say it back because I feel love should express a greater non-platonic form of affection. Any thoughts?