Wait I'm confused.
When we use "Sie" in nominative, it means both formal singular and plural you. So does this change in dative case ? Because if we use "ihnen" it means informal plural "them", not formal. Right ?
Please correct me if I'm wrong
möchten is a conjugated tense. The infinitiv is mögen.
Möchten is the präteritum (past) of the Konjunktiv II. Although it is präteritum it refers to present and current actions. And that verbal tense is usually equivalent to English conditional ("would + inf").