To understand what comes after "therefore," we must go back to the previous verses. At the end of chapter 1, Peter urged us as Christians to show sincere love to each other with pure hearts. It is not because it will benefit us but because it is what our Father does. It is one way He expresses His holiness (1 Peter 1:15–16). Through the everlasting Word of God, we are born again.
To live a holy life as God’s obedient children, we must get rid of all our evil behaviors. Malice is ill-will toward another person, hoping they'll suffer. Deceit is intentional dishonesty. In hypocrisy, we hold other people to standards we don't live up to for pride's sake. The feeling of envy comes from resentment at other people's success or the desire to have what others have. We may say evil things to others or even to ourselves when we are angry or frustrated. All of these actions are the opposite of what God has called us to do, which is to love.
Because we are sinful by nature, we can still be influenced by evils. However, now that we are born again in Jesus Christ, our bondage to sin has been broken. We are no longer slaves to sins. God has enabled us to do what He wants us to do through the Spirit. Let's live by the enduring Word of God because it will never fail!

Dear Heavenly Father, thank You for giving me a new life and breaking my bondage to sins. Thank You for taking the burdens of sin off my shoulders so that I can live free according to Your will. As I am reading Your words, may the Holy Spirit show me the true meanings behind them and help me to obey them in my everyday life. God, Your Word never fails, and I trust You with my life. I surrender my mind, my soul, and my whole heart to You, Lord. Please take away all the evil thoughts that I have in me and replace them with Your everlasting love. 
In Jesus's name I pray. Amen.