There are here a privilege, a character, and a blessing
I. The privilege is that of the "man unto whom God imputeth righteousness without works" (Romans 4:6). (1) "Whose transgression is forgiven." This assurance is fitted to relieve that awful sense of guilt, that terrible apprehension of merited wrath, under which you labour when first your sin really finds you out. The first thing you need is to believe in the forgiveness of sin. (2) "Whose sin is covered." If your conviction of sin is genuine, it works in you, not fear only, but deepest shame, How then may you welcome the intimation that there is not only forgiveness for your transgression, but a covering for your sin! (3) "To whom the Lord imputeth not iniquity." No forgiveness of your transgression, no covering of your sin, will fully satisfy your anxious spirit unless you see how your iniquity itself, your transgression, your sin, bodily, as it were, can be dealt with, disposed of, got rid of, in terms of strictest law, demanding satisfaction and redress. (4) Now we reach the crowning and comprehensive summary of the Apostle: "to whom the Lord imputeth righteousness without works."
II. Such being the nature of the privilege, it is not difficult to see how it is connected with, and indeed dependent upon, the grace or qualification of a guileless spirit. The description here is one of complete peace. What is required of us but the laying aside of guile, what but honest dealing? God is true in His dealing with us. Let us be true in dealing with Him, as "the man in whose spirit there is no guile."
III. The blessedness flowing from the state and character of the man to whom the Lord imputeth righteousness without works, and in whose spirit there is no guile. (1) "Thou art my hiding-place." It is mutual and reciprocal confidence that warrants and prompts this exclamation. (2) "I will guide thee with Mine eye." This is a most benignant, gracious, kindly mode of guidance. It is fatherly guidance apprehended by a filial heart.
R. S. Candlish, The Gospel of Forgiveness,p. 182.
References: Psalms 32:1; Psalms 32:2. J. A. Sellar, Church Doctrine and Practice,p. 69. Psalms 32:1-7, C. Kingsley, Town and Country Sermons,No. 29.