Ephesians 2:8 For by grace are ye saved through faith; and that not of yourselves: it is the gift of God:
Dr. Keith Lamb wrote a wonderful book called Security of the Believer. He found an image of a pair of ancient handcuffs to illustrate being set free from the power of sin. In this image was a pair of stone handcuffs without any signs of a locking mechanism. It appeared that whoever bound that prisoner never intended for his prisoner to be set free. The only way to be fitted into those handcuffs was to grow into them.
Psalm 51:5 Behold, I was shapen in iniquity; and in sin did my mother conceive me.
Our sin nature is born into us and if we are not set free by the love of Christ at a tender age, we will grow into those cuffs. Invisible as they are to the sight of the world, in the spiritual realm they are real and Satan has bound sinners with the intention of never letting them go.
Job 33:24 Then he is gracious unto him, and saith, Deliver him from going down to the pit: I have found a ransom.
Mark 10:45 For even the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many.
Grace is unmerited favor, a free gift from God. Faith also is a free gift from God. God gave you the key to set yourself free, but the life of His Son was the ransom. You have to insert the key into Christ in order to set yourself free from the bondage of sin. You have to place your faith in Christ and the atoning work of the cross.
If you trust and obey, you have been set free from the bondage of sin. You have been set free.
Now what are you going to do with new found freedom?