This verse is taken from Śrīmad-Bhāgavatam (SB 10.87.14). It is from the prayers of the śruti-gaṇa, the personified Vedas, who glorify the Lord.
The almighty Personality of Godhead has three potencies—internal, external and marginal. The conditioned souls, who are condemned due to their forgetfulness of the Lord, are put under the control of the external potency when she creates the material world. The three modes of material nature keep the living entity in a constant state of fear (bhayaṁ dvitīyābhiniveśataḥ). The conditioned soul is always fearful due to being controlled by the external potency; therefore the conditioned soul should always pray to the almighty Lord to conquer the external potency (māyā) so that she will no longer manifest her powers, which bind all living entities, moving and inert. By praying in this way one will become eligible to remain constantly in the association of the Lord, thus fulfilling the mission of going back home, back to Godhead.