# these are the last words

This refers to what David will say in 2 Samuel 23:2-7.

# the man who was highly honored, the one anointed by the God of Jacob

"the man whom the God of Jacob highly honored and anointed" 

# anointed by the God of Jacob

Anointing was done by pouring oil on a person's head. This was done to choose who would serve God as king or priest.

# psalmist

This is a person who writes psalms or songs.