Reverently, I prostrate with my body, speech, and mind;
I present clouds of every type of offering, actual and imagined;
I declare all my negative actions accumulated since beginningless time
And rejoice in the merit of all holy and ordinary beings.
Please, remain until the end of cyclic existence
And turn the wheel of Dharma for living beings.
I dedicate my own merits and those of all others to the great enlightenment.
Short Explanation of the Seven-Limb Prayer
The seven-limb practice in connection with delusions:
Beseeching the Supreme Field of Merit not to pass away overcomes our wrong views and the negative karma we have created by committing negative actions towards the buddhas and spiritual guides. With it we remove dangers and obstacles to our life and plant seeds that eventually ripen in our attainment of the indestructible body of a buddha. (The reference here is a little inaccurate because it is referring to a specific practice: the Ganden Lha Gyäma. In this practice, beseeching the gurus to remain comes first.)
Prostration overcomes pride.
Offering overcomes miserliness.
Confession overcomes all three root delusions, desirous attachment, hatred.
Rejoicing overcomes jealousy.
Requesting to turn the wheel of dharma overcomes the negative action of abandoning dharma.
Dedication overcomes the power of our anger to destroy the merit of whatever good actions we have done. Also by dedicating our merit to benefit all sentient beings we overcome the demon of self-cherishing.
This is taken from: Ganden Lha Gyema: the hundreds of deities of the Land of Joy, by Kyabje Gehlek Rinpoche.