1. By David, a maskil.1Fortunate is he whose transgression is forgiven, whose sin is covered.
2. Fortunate is the man to whom the Lord does not reckon his sin, and in whose spirit there is no deceit.
3. When I was silent, my limbs wore away through my wailing all day long.
4. For day and night Your hand was heavy upon me; my marrow became [dry] as the droughts of summer, Selah.
5. My sin I made known to You, my iniquity I did not cover. I said, "I will confess my transgressions to the Lord," and You have forgiven the iniquity of my transgression forever.

Tehillim Ohel Yoseph Yitzchok (Kehot Publication Society)

Tehillim is recited by Jewish people collectively and individually, as the desire occurs to offer praise and thanksgiving to G-d; or alternitavely, in times of crisis and need, as a form of supplication, and even as a venue to express regret for sin.

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6. For this let every pious man pray to You, at a time when You may be found; indeed, the flood of many waters will not reach him.
7. You are a refuge to me; protect me from distress; surround me with songs of deliverance forever.
8. I will enlighten you and educate you in the path you should go; I will advise you with what I have seen.
9. Be not like a horse, like a mule, senseless, that must be muzzled with bit and bridle when being adorned, so that it not come near you.
10. Many are the agonies of the wicked, but he who trusts in the Lord is surrounded by kindness.
11. Rejoice in the Lord and exult, you righteous ones! Sing joyously, all you upright of heart!