सर्वज्ञे सर्ववरदे सर्वदुष्ट भयङ्करि ।
सर्वदुःख हरे देवि महालक्ष्मि नमोऽस्तुते ॥

All knowing, all beneficient, all lust destroying; remover of all sorrows, Oh Mahalxmi! we bow to you. (alternate) Prostrations again to you, who are omniscient, who shower boons on the good and are a terror to all the wicked, and who removes all sorrows of devotees.

Word meanings:
सर्वज्ञे = Oh! the knower of all;
सर्ववरदे = Oh! the giver of all boons;
सर्वदुष्ट = all kinds of bad things;
भयङ्करि = Oh! one who creates terror;
सर्वदुःख = all kinds of sufferings; troubles;
हरे = OH! hari;
देवि = Oh! goddess;
महालक्ष्मि = Oh! MahalakShmi;
नमोऽस्तुते = Salutations unto Thee;