Do thou renounce eulogising the enemy of thy family: know that a father is the most venerable of all preceptors". Prahlāda said—"O illustrious Brahmins, that ye have said is true—the family of Marichi is celebrated in the three worlds—this cannot be gainsaid. My father has attained to the foremost place in the world by his actions—I have known this to be true—there is not the least shadow of untruth. That a father is the most venerable of all preceptors—I do not find the least mistake in this assertion.

In plain words: The priests tell Prahlada to stop praising Vishnu, his family's enemy, because a father is the highest teacher. Prahlada politely agrees that his family is famous, that his father earned his high place, and that a father deserves the most respect.