Two Mantras

OM NAMAH SHIVAYA

Om Namah Shivaya, Panchakshara (five-syllable mantra, excluding Om) is Beeja Mool Mantra for Lord Shiva. It is part of the Shri Rudram Chamakam, a prayer taken from the Yajurveda. Shivaya is the holy name of Lord Shiva. Om Namah Shivaya means "Om and salutations to Lord Shiva."  

“Namah Shivaya”:

There are different meaning of the two words Namah Shivaya in the mantra Om Namah Shivaya, such as: in Namah (Na is the Lord's hidden grace, Ma is the World) and in Shivaya (Si stands for Shiva, Va is Shiva’s revealing grace and Ya is the Soul).

Some texts refer to Namah Shivaya - five letters (Panchakshara) as the forms of Lord Shiva, such as: Na-gendra (one who wears a garland of snakes), Ma-ndakini (one who is bathed by the water of the Ganges), Shi (the supreme Lord Shiva), Va-shishta (one who is praised by the Sage Vashishta), and Ya-ksha (one who takes the form of Yaksha).

As we chant the five syllables Namah Shivaya, the five elements that comprise the body are purified. Each of the syllables corresponds to one of these elements, such as: Na to the Earth, Ma to the Water, Shi to the Fire, Va to the Air and the Ya to the Ether (sky) element. Each syllable purifies its corresponding element. As long as the body and the mind are not completely pure, one cannot fully benefit from spiritual practice. Therefore, Om Namah Shivaya mantra is there to help cleanse our mind and soul from impurity of material world.

Impact of Mantra, Om Namah Shivaya:

Om Namah Shivaya means "Om, I bow to Shiva – Salutation to Lord Shiva". Lord Shiva is the supreme reality, the inner Self. It is the name given to consciousness that dwells in all. Om Namah Shivaya is a very powerful mantra. Om Namah Shivaya mantra is free of all Vedic rituals and restrictions; no ceremonies, nor an auspicious time or a particular place is required to chant and repeat this mantra. It can be repeated by anyone no matter what state a person is in, it will purify person’s body, mind, intellect and soul. The mantra is most effective when synchronized with the breathing. The most effective way to use it is to repeat Om on the in-breath and Namah Shivaya on the out-breath.

The chanting of Om Namah Shivya is just like meditating upon the energy of Lord Shiva. Lord Shiva is often referred to as the part of the Trinity which has dominion over death and destruction. Lord Shiva is also considered the greatest of the yogis and the lord of meditation. The chanting of Om Namah Shivaya, brings Lord Shiva and all His energies to bless and lead us to the highest state of peace and meditation.


Om Namo Bhagavate Vasudevaya

Om Namo Bhagavate Vasudevaya is known as a Mukti, or liberation, Mantra. It is a spiritual formula for attaining freedom. Consistent chanting of this mantra will eventually, free from the cycles of rebirth. Thus mantra can be translated as:

 "Om and salutations to the Indwelling One, substance of the Divine"     OR

“O my Lord, the all-pervading Personality of Godhead, I offer my respectful obeisance unto You”

The mantra is mentioned and elaborated clearly in the first verse of Srimad Bhagavatam Canto 1 Ch 1:

O my Lord, Shri Krishna, son of Vasudeva, O all-pervading Personality of Godhead, I offer my respectful obeisance unto You. I meditate upon Lord Shri Krishna because He is the Absolute Truth and the primeval cause of all causes of the creation, sustenance and destruction of the manifested universes. He is directly and indirectly conscious of all manifestations, and He is independent because there is no other cause beyond Him. It is He only who first imparted the Vedic knowledge unto the heart of Brahma ji, the original living being. By Him even the great sages and demigods are placed into illusion, as one is bewildered by the illusory representations of water seen in fire, or land seen on water. Only because of Him do the material universes, temporarily manifested by the reactions of the three modes of nature, appear factual, although they are unreal. I therefore meditate upon Him, Lord Shri Krishna, who is eternally existent in the transcendental abode, which is forever free from the illusory representations of the material world. I meditate upon Him, for He is the Absolute Truth. 

Sources: Wikipedia, Google.com.