In plain words
When the rajas and tamas guṇas stir, creation becomes manifest; their stirrings are the karmic connections of the jīvas. According to the predominance of pure sattva she is called 'Māyā'; according to the predominance of the rajo-guṇa she is called 'avidyā' or 'ajñāna'; and according to the predominance of the tamo-guṇa she is called 'tāmasī.' The Ātma reflected in sāttvika Māyā is called Īśvara; the Ātma reflected in avidyā, of the rajo-guṇa, is called the jīva; and the Ātma reflected in the tāmasika, of the tamo-guṇa, is called dravya. So it is only because of the difference in upādhis that the names Īśvara, jīva and dravya arose. But where there are no upādhis, all three may be said to be the one substance, the Ātma. This entire world is nothing but the transformations of the three principles called Īśvara, jīva, and bhūta.
Īśvara's creation came into being for the sake of the jīva's experience. When it is said that the Ātma is reflected within Māyā, avidyā, and tamas, there is one important point worth noting here. A mirror is a vehicle; its power is to cause the objects before it to be reflected within itself. But the mirror's own grime and warp and such flaws truly have no connection whatsoever with the reflections within it.
Even so, out of our own ignorance, we attribute the mirror's grime and warp to the reflection itself. In just the same way, even though Brahman has no real connection with Māyā and avidyā, it comes to be thought, because of ignorance, that Brahman is so affected. Joined with the reflection of Parameśvara, Māyā herself transformed — just as milk transforms into curds — by way of the moon-analogy. This transformation belongs to Māyā alone, and not to the reflection within it. Since Māyā rests on Him, that is, since He holds her in His own control, He Himself is the lord of the workings of Māyā's power. For this reason Parameśvara is known to be omnipotent and omniscient. Of the jīva, Īśvara, and bhūta — these three