Being born-again and accepting the Truth of Jesus Christ, as one's Lord and Savior, is the only way to be an authentic Christian. God has no grandchildren and we cannot piggyback on the Faith of our parents or relatives. Each human being will rise or fall, before God, on the basis of this belief.
While it may seem simple, it is really an incredible supernatural process. When the God of our Salvation (as in part B of the verse above) finally sees we are at the point of knowing the Gospel and making the most crucial decision towards our eternal home (heaven or hell) - He saves us from the latter.
Being born-again happens in an instant and we are immediately pulled from the future flames and set upon the rock, by the Rock of Ages. How this Truth works will be clearer in the Eternal Kingdom. However, God is revealing to us in this verse from Psalm 24:5 the following two very clear divine truths:
1. We receive a blessing from the Lord. That is, God is so generous, kind, loving and compassion towards us that He has basically given us a present. It is a present which must and will be opened, as we are now sons and daughters of Jesus our Lord. This is also the meaning of the original Hebrew word for "blessing" from Psalm 24:5, which is "barak".
2. The Blessing spoken of is the result of one thing....and one major thing alone- SALVATION. Righteousness from the God of his salvation is indicative of person - you and I - being made right (or justified) or "in right standing" before God....because of Christ.
Because we have confessed our sins and turned from following the ways of this world, and believed in the Work on the Cross, we are made right.
Because we have accepted Jesus Christ as the Only Way to Heaven, that He is the True Son of God Who died for our sins, so we can be forgiven and seen as righteous in front of the Father God, we are saved.
Because we confessed with our mouth and believe in our hearts that He is Lord and God raised Him from the dead, we are rescued from the flames and blessed with Eternal Life.
Because of all of this, when God looks at us, He does not see the unredeemed of the world but sees us through the Righteous Eyes of Christ, we are blessed, truly blessed.
Through prayer and bible study, research the word "Righteousness" and seek to comprehend the full meaning of it, to our position in Christ. Also, research the words "justification" and "sanctification" in the original Greek language. This will give a fuller understanding of Salvation.