Craig Conway fired an excellent first-half opener as City looked to be on the way to a first second tier crown in their history in some style before David Edgar's header in injury time snatched a point for the Clarets.
Dyche said: "They've done a great job, it must be said - Malky, his troops, his staff, his players have done a fantastic job. We all know, we've seen it this year, it's as tight as ever. It's a tough league, make no mistake."
Burnley were fortunate not to be further behind at the break as Cardiff turned in a swashbuckling first 45 minutes inspired by the pace and invention of Conway and Kim Bo-kyung.
Despite this and Burnley's precarious position in the Championship table - they edged four points clear of the relegation zone before the three o'clock kick-offs having won once in nine games - Dyche elected not to rant and rave before sending on substitutes Edgar and Martin Paterson for the start of the second half.
"We had a chat at half-time more than anything and I said, 'Lads, just relax and play. Play with that freedom and that energy'," he explained. "I mentioned it several times.
"It's more difficult than you think - you've got a crowd expecting, you've got an opposition who are the market leaders and I knew Malky would go hard and their team wouldn't just back off. They've got some real talent there.
"It was more a case of telling them to relax and play with energy. There were a couple of tactical changes and obviously one of them worked nicely."
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