As a daughter (You and your mother/ father) :

It's a very special relationship of mother and daughter or a father and daughter relation. The relation is bonded on trust and friendship. Yes, if you and your parents are like friends, the more likely are you to have a good relation with them as they are your friend, guide, an advisor. when you stand at crossroads of life. It's a common observance with parents in general who treat their children as their friends and do not pamper them like kids but treat them as individuals, seem to have great positive results on their children's self confidence and these kids do well in life and of course in their studies. 

Mother's instinct is something that can only be known if you are in her place. Since your mother too has gone through a stage which you are in she understands what you go through whether it's your health, love life, choosing a career, anxiety about marriage etc..

So the question is how do you become a good, responsible  and a lovable daughter?

The answer is very simple, if you share your problems and not hide anything from your parents you will not only win their trust but they can help you much better. You can help your mother in the kitchen or other house hold work. Won't you like to help your college friends so how about helping your best friend, believe us these small things matter the most vis-à-vis giving expensive gifts.
Spending some time with her, talk about your day in college/workplace how was her day (mom's) or dad' day in the office. Surprise them with a dinner made by you or visit them some day in their lunch hours with a bouquet of fresh flowers, their happiness will be unfathomable that's for sure..

You want to make them feel like individuals at the same time shield them from the evils. so what do you do?

The best thing that you can do is to treat them as a friend where they feel loved not threatened. Try discussing the issues of concern with them explain very frankly the consequences of making a wrong choice. Do let them party but set a time limit.
Tell them time and again that you and their father are proud of them never shame us with your rash act. Encourage family outings when you as a family can go out of town on weekends and strengthen the bonds amongst your family folks.

Always stress the benefits of a good career and promise them gifts on achieving good scores. Encourage them to take up any sport which they may like (swimming, horse riding, tennis, etc)
Never over impose your thoughts on them. A recent survey showed that most daughters consider their mothers their ideal person you should be their role model. Your husband will be there too but as a mother you have a role to play here.

Make reading a habit for them buy them good books-classics, fiction, scientific discoveries, informative magazines etc.
Make their favorite soups, cakes, any dish which they like...The relation should be such where you your husband and the kids share jokes, laugh, go out on picnics, etc..

Helping them out with their homework, putting them to bed at night, your kids will adore you for this.