Dhāraṇīs are verbal devices that are meant to either encapsulate teachings and meanings (as mnemonics), to function as spells or incantations, or tools for maintaining patience on the bodhisattva path. In this sense, they function similarly to mantras or vidyās, which are incantations. However, mantras and vidyās are typically short formulae, whereas dhāraṇīs may be fairly long. Both may or may not have meaning and are frequently a series of words. In ritual, they may or may not be illocutionary, i.e. speech indicating something that is being done by the person speaking the dhāraṇī, or done by the deity or figure with whom the dhāraṇī is associated.
As regards the various creatures mentioned: yakṣas are considered nature deities who live in and around trees; while they are often depicted as harmless, they occasionally are said to eat flesh. rākṣasas are more generally considered malevolent and flesh eating, causing sickness and misfortune. pūtanas are demons who are said to disease children. kṛtyas are deities who are said to be propitiated with sacrifices for destructive and magical purposes. kumbhāṇḍas are generally said to live "in the south" and whose stomachs are as big as pots, hence their name, which means a pumpkin gourd. Hungry ghosts are more familiar to us, and may
not need introduction.
Vaiśravaṇa is one of the deva kings of the four directions, guarding over the northern direction and also being the chief of the four kings. He is said to have marvellous hearing and great riches, also being known, when associated with riches, as Kuvera, Kubera, or Jambhala. He was born as a heavenly guardian for providing alms in a past life that would last for 20,000 years.
Hārītī was a rakṣāsī (female rākṣasa) who would steal and eat human children, but treasured her own hundreds of children. So the Buddha took her youngest child and hid him under his alms bowl. When Hārītī realised he was lost, she became despairing and appealed to the Buddha to help her, with his powers, to find her son. The Buddha asked her to consider how one of the parents of only one child would feel when their child disappeared, let alone one of a hundred children. Hārītī, understanding that their suffering would be many times greater, then on vowed to only do good, heal the sick, and eat pomegranates.
When asked by Bhaiṣajyarāja, the Buddha explains that the merit of those who preserve and practice even four-lines of this sūtra, let alone the entire sūtra, will be very great. (58b)
Bhaiṣajyarāja gives a dhāraṇī to protect those who expound the Dharma. (58b-c)
Pradānaśūra gives a dhāraṇī to protect the expounders of this sūtra from yakṣas, rākṣasas, pūtanas, kṛtyas, kumbhāṇḍas, and hungry ghosts. (58c-59a)
Vaiśravaṇa provides a dhāraṇī to protect expounders and upholders of the sūtra and to banish their cares.
Dhṛtarāṣṭra with countless gandharvas provides a dhāraṇī to protect upholders of the Lotus Sūtra, stating further that "anyone who attacks or slanders an expounder of the Dharma also attacks or slanders these buddhas" who spoke that dhāraṇī in the past.
Then ten rākṣasīs, Hārītī and her children, arrive to provide a dhāraṇī to protect the expounders of the Dharma from being struck through their weaknesses, and to rid them of cares. (59a)
They say that they will take upon the troubles of the expounders of the Dharma, and that no being can cause them distress.
They explain in verse that those who slander the expounder of the Dharma will suffer the same consequences as those who split the Sangha.
The Buddha praises the rākṣasīs' protection, and states that their merit is great, let alone the merit of those who preserve and revere this sūtra.
"Sixty-eight thousand people attained the acceptance of the nonorigination of all dharmas." (59b)
One may or may not consider the effects of a dhāraṇī to be practical on the one hand, or on the other, psychological in nature. In the case of the dhāraṇīs in this chapter, they do not obey syntactical rules, and can be understood as incantations for the effects indicated in the chapter.
Tao-sheng takes another approach, which may make more sense to us today as well. That is to say, because the general mass of people have too shallow knowledge and conditions for truly receiving and keeping this sūtra, the Buddha uses incantations to create sentiments of earnestness in practice. Since people "believe in and respect incantation," considering that it can "ward off misfortune and invite luck," and since in the latter days many fearful things will happen, the Buddha promotes this as a method for them to develop faith. People will keep and care deeply for these incantations. Thus, they develop the conditions to hear this sūtra. (Kim, 528-30)
In the final verse the following lines are explained: "His head will be split into seven pieces/Just like a branch of the arjaka tree." Since the branches of the arjaka tree split when they fall to the ground, this is what the head of such an one is described as doing. "Consider the transgression of parricide,/Of pressing sesame mixed with impurities." Tao-sheng says "Many heretics (tīrthikas) hold the view that all the grasses and plants bear life. The demons all believe this view. Therefore, they are afraid of committing sin by pressing oil." (Kim, 532)