1 Nephi 22:26

"26 And because of the ^arighteousness of his people, ^bSatan has no power; wherefore, he cannot be loosed for the space of ^cmany years; for he hath no power over the hearts of the people, for they dwell in righteousness, and the Holy One of Israel ^dreigneth."

In the end of verse 25, we see that the righteous who are spared shall come unto the Good Shepherd and find pasture. This time is describing the Millennium, or a 1000 years of peace and freedom where Jesus will reign. In verse 26, we see one of the most important things that will occur in that time of pasture. Here is the entry from the Guide to the Scriptures about the Millennium (see also the entry on Second Coming of Jesus Christ):

The Millennium is:

"The thousand-year period of peace that will begin when Christ returns to reign personally on the earth (A of F 1: 10)."

Events of the Millennium:

"People will not lift up sword, neither learn war any more, Isa. 2: 4 (2 Ne. 12: 4; Micah 4: 3).
"Land that was desolate is become like the garden of Eden, Ezek. 36: 35.
"They lived and reigned with Christ a thousand years, Rev. 20: 4.
"Because of righteousness, Satan has no power, 1 Ne. 22: 26.
"I will dwell in righteousness on earth a thousand years, D&C 29: 11.
"When the thousand years are ended, I will spare the earth for a little season, D&C 29: 22.
"The great Millennium shall come, D&C 43: 30.
"Children of the righteous will grow up without sin, D&C 45: 58.
"Children shall grow up until they become old; men shall be changed in the twinkling of an eye, D&C 63: 51.
"In the beginning of the seventh thousand years, the Lord will sanctify the earth, D&C 77: 12.
"They [meaning those of the Second Resurrection, I believe] live not again until the thousand years are ended, D&C 88: 101.
"Satan shall be bound for a thousand years, D&C 88: 110.
"The Millennium is described, D&C 101: 23-34.
"For a thousand years the earth shall rest, Moses 7: 64."

The important thing in this verse to apply to our day, besides the knowledge that Satan will be bound or not able to do anything to the people because of their righteousness during the Millennium, is that he can be bound today, right now, if we choose not to heed his temptations. So, how can we avoid and not follow his temptations? King Benjamin has this advice to give (Mosiah 4:29-30):

"29 And finally, I cannot tell you all the things whereby ye may commit sin [i.e., give in to Satan's temptations]; for there are divers ways and means, even so many that I cannot number them.

"30 But this much I can tell you, that if ye do not ^awatch yourselves, and your ^bthoughts, and your ^cwords, and your deeds, and observe the commandments of God, and ^dcontinue in the faith of what ye have heard concerning the coming of our Lord, even unto the end of your lives, ye must perish. And now, O man, remember, and perish not."

We can bind Satan by being righteous today. That we may do so.