seyaṁ guṇa-mayī māyā
na tvām abhibhaviṣyati
mayā sametā kālena
kāla-rūpeṇa bhāgaśaḥ
—that insurmountable; iyam—this; guṇa-mayī—consisting of the three modes of material nature; māyā—illusory energy; na—not; tvām—you; abhibhaviṣyati—will be able to bewilder in the future; mayā—with Me; sametā—joined; kālena—eternal time; kāla-rūpeṇa—in the form of time; bhāgaśaḥ—with her different parts.
The material, external energy [māyā], who cooperates with Me in creation and who is manifested in the three modes of nature, will not be able to bewilder you any longer.
When Lord Śiva was present, his wife, Durgā, was also there. Durgā works in cooperation with the Supreme Personality of Godhead in creating the cosmic manifestation. The Lord says in Bhagavad-gītā (9.10), mayādhyakṣeṇa prakṛtiḥ sūyate sacarācaram: “The material energy [prakṛti] works under My direction, O son of Kuntī, and is producing all moving and unmoving beings.” Prakṛti is Durgā.
The entire cosmos is created by Durgā in cooperation with Lord Viṣṇu in the form of kāla, time. Sa īkṣata lokān nu sṛjā. Sa imāḹ lokān asṛjata. This is the version of the Vedas (Aitareya Upaniṣad 1.1.1–2). Māyā happens to be the wife of Lord Śiva, and thus Lord Śiva is in association with māyā, but Lord Viṣṇu here assures Lord Śiva that this māyā will no longer be able to captivate him.

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