How to design an accurate and robust ranking algorithm is a fundamental problem with wide applications in many real systems. It is especially significant in online rating systems due to the existence of some spammers. In the literature, many well-performed iterative ranking methods have been proposed. These methods can effectively recognize the unreliable users and reduce their weight in judging the quality of objects, and finally lead to a more accurate evaluation of the online products. In this paper, we design an iterative ranking method with high performance in both accuracy and robustness. More specifically, a reputation redistribution process is introduced to enhance the influence of highly reputed users and two penalty factors enable the algorithm resistance to malicious behaviors. Validation of our method is performed in both artificial and real user-object bipartite networks.