1. A psalm of praise by David: I will exalt You, my God the King, and bless Your Name forever.
2. Every day I will bless You, and extol Your Name forever.
3. The Lord is great and exceedingly exalted; there is no limit to His greatness.
4. One generation to another will laud Your works, and tell of Your mighty acts.
5. I will speak of the splendor of Your glorious majesty and of Your wondrous deeds.

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.

6. They will proclaim the might of Your awesome acts, and I will recount Your greatness.
7. They will express the remembrance of Your abounding goodness, and sing of Your righteousness.
8. The Lord is gracious and compassionate, slow to anger and of great kindness.
9. The Lord is good to all, and His mercies extend over all His works.
10. Lord, all Your works will give thanks to You, and Your pious ones will bless You.
11. They will declare the glory of Your kingdom, and tell of Your strength,
12. to make known to men His mighty acts, and the glorious majesty of His kingdom.
13. Your kingship is a kingship over all worlds, and Your dominion is throughout all generations.
14. The Lord supports all who fall, and straightens all who are bent.
15. The eyes of all look expectantly to You, and You give them their food at the proper time.
16. You open Your hand and satisfy the desire of every living thing.
17. The Lord is righteous in all His ways, and benevolent in all His deeds.
18. The Lord is close to all who call upon Him, to all who call upon Him in truth.
19. He fulfills the desire of those who fear Him, hears their cry and delivers them.
20. The Lord watches over all who love Him, and will destroy all the wicked.
21. My mouth will utter the praise of the Lord, and let all flesh bless His holy Name forever.