What does the engraving mean on the one ring in Lord of the Rings?

Answer 1

'Ash nazg durbatulûk, ash nazg gimbatul, Ash nazg thrakatulûk agh burzum-ishi krimpatul.' This is called The Black Speech, the langauge of Mordor. It tells of the the One Ring's power to control all the other rings. Translated, the words say 'One ring to rule them all, one ring to find them, One ring to bring them all and in the darkness bind them'.

Answer 2

The engraving on the One Ring in "Lord of the Rings" reads: "One Ring to rule them all, One Ring to find them, One Ring to bring them all and in the darkness bind them." This inscription signifies the power and control the ring holds over those who possess it.