Manually annotating datasets for training deep models is very labor-intensive and time-consuming. To overcome such inferiority, directly leveraging web images to conduct training data becomes a natural choice. Nevertheless, the presence of label noise in web data usually degrades the model performance. Existing methods for combating label noise are typically designed and tested on synthetic noisy datasets. However, they tend to fail to achieve satisfying results on real-world noisy datasets. To this end, we propose a method named GRIP to alleviate the noisy label problem for both synthetic and real-world datasets. Specifically, GRIP utilizes a group regularization strategy that estimates class soft labels to improve noise robustness. Soft label supervision reduces overfitting on noisy labels and learns inter-class similarities to benefit classification. Furthermore, an instance purification operation globally identifies noisy labels by measuring the difference between each training sample and its class soft label. Through operations at both group and instance levels, our approach integrates the advantages of noise-robust and noise-cleaning methods and remarkably alleviates the performance degradation caused by noisy labels. Comprehensive experimental results on synthetic and real-world datasets demonstrate the superiority of GRIP over the existing state-of-the-art methods.