Rav Hamnuna tells Elijah that a righteous man whose sins are few is punished in this world, but a man with many sins and a few good deeds is rewarded in this world. He goes on to say that people must confess their own sins to God and then He will hear, judge, and forgive him.
When we confess our own sins, absolutely, to the Creator, as opposed to having our Accuser (Satan) present them as an indictment against us, the Zohar states: "...The heavenly court leaves alone the person who expounds his own sins AND DOES NOT FIND HIM GUILTY."
This passage is our opportunity to confess and procure a favorable verdict concerning that sins we have committed. Acknowledging our misdeeds is the key to activating the power of this passage.