I am sorry that @ctaylorgraphics deleted his post as it was a good answer. So I will attempt a second-best answer.
I agree that that the best translation of Ps 145:2 is provided by the ESV and creates a miniature chiasm in a single verse:
Every day I will bless you
. . . and I will praise Your name for ever and ever
Notice that "bless" corresponds to "praise"; and "every day" corresponds with "for ever and ever"; thus creating the little chiasm.
Now back to the two words of "bless" vs "praise".
Here, "bless" translates בָרַךְ (barak) meaning to kneel or bless; that is to give honor from a subservient position, eg, Gen 24:48, Deut 8:10, Judges 5:2, 9, 1 Chron 29:10, 20, Neh 9:5, etc.
Similarly, "praise" translates הָלַל (halal) [from which which English derives the word, "hallelujah"] and means (literally) to shine. It is used consistently to mean "praise" (eg, Ps 135:3, 104:35, 106:1, 111:1, etc) or occasionally to boast (ie praising one's self, eg, Ps 44:9, 10:3).
That is, again, the two words are often used as near synonyms as was previously discussed in Ps 104:35.
