What does Psalm 124:8 mean?

As the Creator, God's power cannot be matched by anything in existence. When God is on someone's side, there is nothing an enemy can do to override Him. Israel's history proved that reliance on God was their only hope against powerful enemies (Psalm 124:1–5; Exodus 12:41; 14:28–29; Deuteronomy 4:37–38). A God with the power to create by just speaking a word (Hebrews 11:3) is not challenged by anyone or anything.

Christians can celebrate that the Lord offers His strength in our spiritual battles. He understands our weakness and receives us with compassion (Hebrews 4:15–16). He offers us the guidance of His Spirit (John 15:8–11), tools and resources of faith (Ephesians 6:11, 14–18), and the free will to make choices (1 Corinthians 10:13). Even when we stumble, He is ready to forgive (1 John 1:8–10).

Those ideas explain God's character. This is what it meant by "the name of the Lord." The power is not in written or spoken words, but in what they represent. We can rely on God because of who He is.