। ॥
In plain words
Dharma has come to ruin, the three worlds are thrown into turmoil by sin, people everywhere drive knowledge idly along the road of words, and the very being of the Supreme Lord and Father has gone onto the swing of doubt. Who but you is an island for the good, O you whose steed is the peacock, mortal in disguise?
Word for word
Dharma having come to ruin, the three worlds thrown into turmoil by sin, knowledge being driven idly everywhere by people along the road of words, and the being of the Supreme Lord and Father having gone onto the swing of doubt: an island for the good, O peacock-borne one, mortal in disguise, who is there but you?