The Hail Mary is a common prayer. Many Catholics worldwide say it, what seems to be repetitively, in the most Holy Rosary. In fact, it is quite common to say the words of the prayer without even thinking about what we are saying.

Quite a few of you have probably heard about the three sections of this prayer, the first section was said by the angel (Luke 1:28), the second by St. Elizabeth (Luke 1:42), and the third, naming Mary under the holy title of Mother of God and asking for her prayers, was added by the Church. I have personally split up the Hail Mary phrase by phrase instead to see what I can find. 

Hail, Full of Grace!
This is the angels greeting. He called her Full of Grace, as though it were a title and hailed her. 'Hail' is a word used for royalty, like a Queen. Full of Grace is her title; because she is full of grace, she is addressed as a Queen. God's grace and her complete cooperation with that grace has made her Queen of Heaven and Earth.

We call Mary by name here so as to specify to whom we are speaking and keeping her title Full of Grace to follow the name. Today many parents take great care in naming their child, trying to pick a perfect name. Sometimes, after the name is chosen, though, we just use it without thinking, habitually, like we commonly use Mary's name when praying the Hail Mary. After all, names are just names right? But in the Old Testament times names meant even more than today. The name "Mary" means "star of the sea," "child of bitterness," or "wished for child," depending on the translation you use. Mary is our guide in the rough times on earth (the star of the sea). She is the Queen of the Martyrs (child of bitterness, she suffered more than any at the foot of the cross). She is the child through whom the promised Savior entered the world (wished for child).

The Lord is with you.
You are sinless, full of grace, spotless before the eyes of God

Blessed are you among women
closer to God than any other women

And Blessed is the Fruit of your womb, 
You are the first Tabernacle and for nine month held God, Himself within your womb. You held the source of our Salvation and He through whom all graces come

Jesus
the most Holy name of Jesus said reverently can be a prayer in Itself 

Holy Mary, Mother of God
You were Mother of Him, Our Savior and the Source of grace and all that is good and holy. You cooperated with the Father to give Him a body, gave birth to him and raised Him from a childhood to adult. You were with Him for most of His earthly life, pondering His words in your heart, and even now you are closer to Him than anyone else.

Pray for us sinners
We are so much less perfect than you and we beg you to pray for us

Now and at the hour of our death.
Make haste to help us now. Pray for us throughout our life and especially when the devil works so hard to make us despair, or in any way turn away from God, at the hour of our death. Help us to continually prepare for that great day when we will be with God in Heaven

Amen
So be it.