(Because of the brevity, this has been reposted complete; source.)
For historical reference, this begins a series of psalms traditionally used to celebrate Passover. This one and the next were sung before the meal. As with other songs of this type, the format is rather simple and easy to memorize. Moreover, it follows a standard protocol for celebrating any powerful figure within the Ancient Near Eastern feudal customs. The essence of this short hymn declares how fortunate one is to live in the domain of the ruler. It is entirely appropriate for the annual commemoration of the nation’s founding event, Exodus.
All of the psalms in this collection begin with “hallelujah,” and they are called the “hallel” songs for this reason. In light of His glorious Presence, who could remain silent? Just saying His name should elicit a thrill and a sense of peace. It should be like that until the day we die, and all day long.
Nothing compares to His glory. Nothing in this earth, among all the nations of mankind, nor anything in the Heavens above, even comes close. Yet, from such a high place, His kindness and mercy is equally great, for He bends down to notice our lives here.
By His power and kindness He rescues the lowest outcast from digging in the garbage. He seats this one among His own nobles. And the poor shame-ridden childless woman is treated as precious as the woman with many children. She has a place in His personal palace.
How can you not burst out in praise for His name?