Miscellaneous by Al-Albani-255

The Shaykh : The second hadith, which is also authentic. It says: And from Abu Hurayrah (may Allah be pleased with him), who said: The Messenger of Allah (peace and blessings be upon him) said: This is the best of supplication, so memorize it; it is two words. In another narration: It was narrated by Ibn Majah with a good chain of transmission. In this narration, there is a request using different wording, namely the request for well-being (al-ma'afah).
... Here, the intended meaning is that you are safe from the harm people cause you, and that people are safe from your harm at the same time, because there is a sense of mutual interaction here. So, we should ask Allah for pardon, well-being, and protection in this world and the Hereafter. We should ask that a person be safe from the harm of people, and that people be safe from his harm. This is a very important matter, and it makes us aware of the importance of this protection or this well-being. It is the hadith that you have surely heard many times, in which the Prophet (peace and blessings be upon him and his family) said to his Companions one day: They said: "The bankrupt among us is the one who has no dirham and no goods." He said: This is the one who was not protected from the people; the people were not safe from his evil. So the outcome of his affair was that he entered the Fire, despite the abundance of his good deeds, which the Messenger (peace be upon him) compared to mountains. These good deeds did not benefit him in any way because the people were not safe from his harm and his evil.