What is the meaning of "There is no might and no power except with Allah, the Most High, the Most Great," what is its commentary, and when is it said?

The meaning of "Lā ḥawla wa lā quwwata illā billāh" (There is no might or power except with Allah) is an acknowledgment by the servant of their inability to do anything except with Allah's enabling and facilitation. It signifies that no matter how great one's strength, it is insufficient without the help of Almighty Allah. It is recited when encountering a great or difficult matter. Among its occasions are: when turning over at night, upon hearing the muezzin say "Ḥayya ‘alaṣ-ṣalāh" (Hasten to prayer) or "Ḥayya ‘ala al-falāḥ" (Hasten to success), when leaving the house, and after prayer.