Higgs Boson Discovery - What does it mean?

On the 4th of July (2012), scientists working on the CERN project announced the discovery of a particle that was in relation to the much hypothesized (and hyped!) Higgs Boson element and how the scientific world was changed forever. But for a layman, what does that actually mean and how does it affect us in any way?

Otherwise also known as the "God Particle", it is what gives mass to other particles, including everything from protons to quarks. 

The discovery of the Higgs Boson merely confirms and completes the basic standard model of particle physics. This is no way a final discovery but only paves a way for further scientific research and breakthrough.

Here's an interesting video that describes the nature of Higgs Boson and why it is so important to science?