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Father
This is in important title for God. It is best to translate “Father” with the same word your language would naturally use to refer to a human father.
Lord of heaven and earth
"Lord who rules over heaven and earth" or "Lord of everyone everywhere"
you concealed these things from ... and revealed them to
The words "these things" probably refers to truths. Alternate translation: "you hid these truths from ... and revealed them to" or "you have not made these things known to ... and you made them known to"
the wise and understanding
"people who are wise and understanding." Jesus said this because some people thought they were wise. Alternate translation: "people who think they are wise and understanding"
to little children
"to people who are like little children." Jesus is emphasizing that many of those who believe him either are not well educated or do not think of themselves as wise.