Mahalakshmi Ashtakam

Meaning:

Namastestu mahāmaȳe śrīpīṭhe surapūjite .
Śaṅkhacakragadāhaste mahālakṣmi namo'stute ..1..

Salutation to you, O Mahalakshmi, who are Mahamaya, the seat of auspiciousness, who are worshipped by the gods, and who hold the conch, the disc, and the mace.

Namaste garuḍārūḍhe kolāsurabhayaṅkari .
Sarvapāpahare devi mahālakṣmi  namo'stute ..2..

Salutation to you, O goddess Mahalakshmi, who are seated on Garuda, who make the demon Kola afraid, and who remove all sins.

Sarvajñe sarvavarade sarvaduṣṭabhayaṅkari .
Sarvaduḥkhahare devi mahālakṣmi namo'stute ..3..

Salutation to you, O goddess Mahalakshmi, who are omniscient, who grant all boons, who create fear in all evil forces, and who remove all sorrows.

Siddhibuddhiprade devi bhuktimuktipradāyini .
Mantramūrte sadā devi mahālakṣmi namo'stute ..4..

Salutation to you always, O goddess Mahalakshmi, who give accomplishment and intelligence, who give enjoyment and liberation, and who are the embodiment of mantras.

Ādyantarahite devi ādyaśakti maheśvari .
Yogaje yogasambhūte mahālakṣmi namo'stute ..5..

Salutation to you, O goddess Mahalakshmi, who have no beginning and end, who are the primordial power, who are the great goddess, who are born from yoga, and who have created yoga.

Sthūlasūkṣmamahāraudre mahāśaktimahodare .
Mahāpāpahare devi mahālakṣmi namo'stute ..6..

Salutation to you, O goddess Mahalakshmi, who are gross and subtle and have great ferocity, who are the great power, who have a giant stomach, and who remove all sins.

Padmāsanasthite devi parabrahmasvarūpiṇi .
Parameśi jaganmātaḥ mahālakṣmi namo'stute ..7..

Salutation to you, O goddess Mahalakshmi, who are seated on a lotus, who are the embodiment of the supreme Brahman, who are the supreme goddess and the mother of the universe.

Śvetāmbaradhare devi nānālaṅkārabhūshite .
Jagatsthite jaganmātaḥ mahālakṣmi namo'stute ..8..

Salutation to you, O goddess Mahalakshmi, who wear white clothes, who are bedecked with various ornaments, who are the stability of the universe, and who are the mother of the universe.

 This hymn was composed by Indra.
The Lakshmi Gayatri, repeated after each pair of verses, 
is not a part of the stotram and is found in the Sri suktam.

Notes:

In the Padma Purana, there is a description of the famous 'Churning of the Ocean' story.

The gods and the demons waged long wars against each other. The gods,afer being drained of strength and resources, offered a truce to the demons and along with them, proceeded to churn the ocean of milk, on the advice of Lord Vishnu. They uprooted the mountain Mandara and used it as a churning rod. The serpent king Vasuki became the churning rope. As they begin churning, the mountain sinks into the ocean due to its weight. When the gods and demons despair, Vishnu takes the form of a giant tortoise and supports the mountain on his back, so that the churning can continue.

  As the ocean was churned, fumes of the toxic kalakuta poison were emitted. All living beings were affected by the fumes. It was Shiva who came forth and drank the poison, thus saving the world from destruction. The poison stained his neck a deep blue colour, giving him the name 'Neelakantha', the blue-necked one.

 The next product of churning was Goddess Lakshmi herself. On seeing her splendour, the king of gods Indra praises her with this hymn. After the emergence of Lakshmi, various objects like the parijata tree, the koustubha jewel and the horse Ucchaisravas were formed. These were divided equally among the gods and the demons. The final product of churning the ocean was the nectar of immortality. The gods the consumed the nectar and defeated the demons decisively.