That thou mayest regard
shamar (shaw-mar')
to hedge about (as with thorns), i.e. guard; generally, to protect, attend to, etc.
discretion
mzimmah (mez-im-maw')
a plan, usually evil (machination), sometimes good (sagacity) -- (wicked) device, discretion, intent, witty invention, lewdness, mischievous (device), thought, wickedly.
and that thy lips
saphah (saw-faw')
the lip (as a natural boundary); by implication, language; by analogy, a margin (of a vessel, water, cloth, etc.)
may keep
natsar (naw-tsar')
to guard, in a good sense (to protect, maintain, obey, etc.) or a bad one (to conceal, etc.)
knowledge
da`ath (dah'-ath)
knowledge -- cunning, (ig-)norantly, know(-ledge), (un-)awares (wittingly).