Carlisle's rendition of the song entered five different Billboard format charts in the United States, becoming a number-one single on the Adult Contemporary chart. The song also received a Dove Award for Song of the Year, as well as a Grammy Award for Best Country Song. It is also Carlisle's only chart single.
The same year that Carlisle's version was released, two different country music artists recorded covers of the song. These covers would overlap with his version, which was also a minor hit on the country charts. The higher-peaking cover was issued by the Raybon Brothers, a duo composed of Marty Raybon (former lead singer of Shenandoah) and his brother Tim. The Raybon Brothers' version was a #37 country and #22 Hot 100 hit in 1997. One of three singles for the duo, it was also the title track to the Raybon Brothers' 1997 MCA Records debut album. The Raybon Brothers' rendition received RIAA gold certification.
Jeff Carson also recorded his own version on his second album for Curb Records, which was also titled Butterfly Kisses. Carson's version peaked at #63 on the country music charts. The album also featured an alternate version of the song, which contained elements from Kippi Brannon's then-current single "Daddy's Little Girl".