प्राणान् क्षेत्रज्ञरूपेण धारयन्, जीवः उच्यते ।विनयित्वं विनयिता, तां च साक्षात्पश्यति प्रजानामिति विनयितासाक्षी; अथवा, नयतेर्गतिवाचिनो रूपं विनयिता, असाक्षी असाक्षाद्द्रष्टा आत्मातिरिक्तं वस्तु न पश्यतीत्यर्थः ।मुक्तिं ददातीति मुकुन्दः ।पृषोदरादित्वात्साधुत्वम् ।अक्षरसाम्यान्निरुक्तिवचनात् नैरुक्तानां मुकुन्द इति निरुक्तिः ।अमिता अपरिच्छिन्ना विक्रमास्त्रयः पादविक्षेपा अस्य, अमितं विक्रमणं शौर्यमस्येति वा अमितविक्रमः ।अम्भांसि देवादयोऽस्मिन्निधीयन्त इति अम्भोनिधिः, 'तानि वा एतानि चत्वार्यम्भांसि ।देवा मनुष्याः पितरोऽसुराः' इति श्रुतेः; सागरो वा, 'सरसामस्मि सागरः' इति भगवद्वच
In plain words
Sustaining the life-forces in the role of the individual soul, he is called Jīva. Vinayitāsākṣī is he who directly beholds the discipline of all beings; or else, derived from the root meaning to lead, vinayitā denotes one who is not an ordinary witness, since he sees nothing other than the Self. Because he grants liberation, he is Mukunda. This form is grammatically valid due to irregular elisions, and etymologists derive it through letter-equivalence. His three strides are boundless and infinite, or his prowess is measureless, hence Amitavikrama. Because the cosmic waters and beings are deposited in him, he is Ambhonidhi—as the scripture says: 'These four waters are gods, men, ancestors, and demons'—or he is the ocean itself, fulfilling the divine utterance: 'Among bodies of water I am the ocean.'
Close to the Sanskrit
Sustaining the vital breaths in the form of the knower of the field, he is called Jiva. Humility and the direct witnessing of subjects' humility makes him Vinayitasakshi; or alternatively, from the root nī denoting motion comes the form vinayitā, meaning one who is not a witness in the ordinary sense because he beholds nothing other than the Self. Because he grants liberation, he is Mukunda. The correctness is due to the pṛṣodara class of irregularities. Based on phonetic similarity and etymological statements of etymologists, the derivation is Mukunda. His three strides are unmeasured and infinite, or he has boundless valor and heroic stepping, hence Amitavikrama. Waters and gods are placed in him, hence Ambhonidhi, 'Those four waters are indeed gods, men, fathers, demons,' according to scripture; or the ocean, 'Among bodies of water I am the ocean,' according to the Lord's word...