Rather than calling down judgment [or demanding retribution], from the one who wronged us, we are to personally absorb the offense in the cushion of our love.
John A. Kitchen, Proverbs-A Mentor Commentary, p.223.
To [cover] means that while you have indeed been personally offended, you choose not to react on the basis of [personal rights], but to deal with the offense with patience and graciousness because you are looking more to glory of God and the good of the other person.
2 Stuart Scot, The Exemplary Husband, p.363.
A steward was an individual entrusted with the administrative responsibility for household affairs. This included the handling of property or wealth according to the owner's will and direction... The entrustment is not made for one's own enjoyment; he was responsible to use his gift for the benefit of the one whom he serves... [Thus] Christians are stewards, not owners, of the gifts..they possess.
D. Edmond Hiebert, 1 Peter (Winona Lake, IN: BMH Books, 1997), 275.