So the words that are visible, starting from the top row, right to left are
תחלת חכמה, transliterated t'chilat khokhma
יראת י-ה-ו-ה, (dashes inserted are mine as Jews consider this a sacred name of G-d that should not be written lightly:
http://www.jewfaq.org/name.htm) transliterated yirat Y-H-V-H
A little research reveals that this is a saying from
Proverbs 9:10.
Roughly translated, it means "The beginning of wisdom is fear of G-d." Some flip the words in translation so that it reads "Fear of G-d is the beginning of wisdom."
The passuk (sentence) continues (not visible in this photograph, perhaps not included in this tattoo):
ודעת קדשׁים בינה, transliterate veda'at kedoshim binah
Translated as "And the knowledge of the holy, understanding." Again, some shuffle the translation and say "and understanding is the knowledge of the holy ones."
Here is a link to that
entire chapter of Proverbs in the original Hebrew and with English translation.
I would also note that the design of the tattoo looks to me like it might be meant to mimic the straps of
tefillin that one wraps on the arm during morning prayers, but without seeing the greater picture, I cannot be sure about this.
