FAITH ALONE
Faith Alone is the teaching that justification ("being declared right by God"), is received by faith only, without any mixture of or need for good works, though saving faith is always evidenced by good works. This doctrine is summarized with the formula "Faith yields justification and good works.”
Christ merits justification for sinners, but justification is not a declaration of sinlessness on the believer’s part. Luther used the expression simul justus et peccator ("at the same time justified and a sinner"). Martin Luther taught that faith is not human response, but the work of God through the means of grace. Faith is the righteousness of God that is accomplished in us through word and sacraments. We need God to destroy continually self-righteous faith and to replace it with the life of Christ. The believer who has been made alive in Christ has received salvation by Faith Alone. The faith of the individual is absolutely necessary and is itself the sufficient response. Luther called Faith Alone as the "doctrine by which the church stands or falls."
GRACE ALONE
Grace Alone is the teaching that salvation comes by God's grace or "undeserved favor" only — not as something earned by the sinner. This means that salvation is an unearned gift from God for Jesus' sake. The doctrine of grace is truly and always a gift of God as the sole actor in grace. People cannot by any action of their own cooperate with grace to "merit" greater graces for themselves. God acts alone to save the sinner.
CHRIST ALONE
Christ Alone is the teaching that Christ is the only mediator between God and man, and that there is salvation through no other. While rejecting all other mediators between God and himself, the repentant believer is reconciled to God directly through faith in Christ's forgiveness.