Midrash is the Jewish term for hashing out Scripture. In other words, it is a way of finding an answer to a practical or theological question by studying the meaning of words in Torah. Midrash is used to discover halacha or how to walk out the direction of Torah commands. This method of studying the Scriptures has been used by rabbis and students of the Word of God for millennia even though it is most notably used by the Orthodox communities of the past few centuries.
When we ‘fear’ God, we will be ‘morally reverent’ to His laws, commandments, Torah. We will obey Him and receive His righteousness and be ‘kept alive.’ If we do not yirah Him, we will live an immoral life, rejecting everything He gave us ‘for our own good’ and ‘die.’