Gendou Ikari said:
(KJV) "For there are three that bear record in heaven, the Father, the Word, and the Holy Ghost: and these three are one. {8} And there are three that bear witness in earth, the Spirit, and the water, and the blood: and these three agree in one."
This is not entirely acurate either. It should read.
(YLT) "because three are who are testifying [in the heaven, the Father, the Word, and the Holy Spirit, and these -- the three -- are one; and three are who are testifying in the earth], the Spirit, and the water, and the blood, and the three are into the one."
The brackets are there because the words contained in them are not in the original manuscripts.
Here is some further information on the verse of 1 John 5:7-8
John Gill's Exposition of the Bible
1 John 5:7
For there are three that bear record in heaven…
That is, that Jesus is the Son of God. The genuineness of this text has been called in question by some, because it is wanting in the Syriac version, as it also is in the Arabic and Ethiopic versions; and because the old Latin interpreter has it not; and it is not to be found in many Greek manuscripts; nor cited by many of the ancient fathers, even by such who wrote against the Arians, when it might have been of great service to them: to all which it may be replied, that as to the Syriac version, which is the most ancient, and of the greatest consequence, it is but a version, and a defective one. The history of the adulterous woman in the eighth of John, the second epistle of Peter, the second and third epistles of John, the epistle of Jude, and the book of the Revelations, were formerly wanting in it, till restored from Bishop Usher's copy by De Dieu and Dr. Pocock, and who also, from an eastern copy, has supplied this version with this text. As to the old Latin interpreter, it is certain it is to be seen in many Latin manuscripts of an early date, and stands in the Vulgate Latin edition of the London Polyglot Bible: and the Latin translation, which bears the name of Jerom, has it, and who, in an epistle of his to Eustochium, prefixed to his translation of these canonical epistles, complains of the omission of it by unfaithful interpreters. And as to its being wanting in some Greek manuscripts, as the Alexandrian, and others, it need only be said, that it is to be found in many others; it is in an old British copy, and in the Complutensian edition, the compilers of which made use of various copies; and out of sixteen ancient copies of Robert Stephens's, nine of them had it: and as to its not being cited by some of the ancient fathers, this can be no sufficient proof of the spuriousness of it, since it might be in the original copy, though not in the copies used by them, through the carelessness or unfaithfulness of transcribers; or it might be in their copies, and yet not cited by them, they having Scriptures enough without it, to defend the doctrine of the Trinity, and the divinity of Christ: and yet, after all, certain it is, that it is cited by many of them; by Fulgentius, in the beginning of the "sixth" century, against the Arians, without any scruple or hesitation; and Jerom, as before observed, has it in his translation made in the latter end of the "fourth" century; and it is cited by Athanasius about the year 350; and before him by Cyprian, in the middle, of the "third" century, about the year 250; and is referred to by Tertullian about, the year 200; and which was within a "hundred" years, or little more, of the writing of the epistle; which may be enough to satisfy anyone of the genuineness of this passage; and besides, there never was any dispute about it till Erasmus left it out in the, first edition of his translation of the New Testament; and yet he himself, upon the credit of the old British copy before mentioned, put it into another edition of his translation. The heavenly witnesses of Christ's sonship are, the Father, the Word, and the Holy Ghost.
http://bible1.crosswalk.com/Commentarie ... =5&verse=7
1 John 5:8
And there are three that bear witness on earth…
To the same truth of the sonship of Christ:
the Spirit, and the water, and the blood;
by the "Spirit" is not meant the human Spirit or soul of Christ; for however that may be a witness of the truth of his human nature, yet not of his divine sonship: and moreover cannot be said to be a witness in earth; rather the Gospel, called the Spirit, which is a testimony of Christ's person, office, and graces and is preached by men on earth; or else the gifts of the Spirit bestowed on men on earth, both in an extraordinary and ordinary way, by which they have been qualified to bear witness to this truth; or it may be the Holy Spirit itself is intended, as he is in the hearts of his people here on earth, where he not only witnesses to the truth of their sonship, but also of the sonship of Christ, and is that witness a believer has within himself of it, mentioned in (1 John 5:10) . By water is designed, not internal sanctification, which though an evidence of regeneration and adoption, yet not of Christ's sonship; but water baptism, as administered on earth in the name of the Father, and of the Son, and of the Holy Ghost; and which is a noble and standing testimony to the proper, natural, and eternal sonship of Christ: and by "blood" is intended, not justification by the blood of Christ, but rather the blood of the saints, the martyrs of Jesus, who have shed it on earth, in testimony of their faith in the Son of God, and thereby sealing the truth of it; or rather the ordinance of the Lord's supper, which is the communion of the blood of Christ; and represents that blood which was shed for the remission of sins, and has a continual virtue to cleanse from all sin, which is owing to his being the Son of God. The three witnesses on earth seem therefore to be the Gospel, attended with the Spirit and power of God, and the two ordinances of baptism, and the Lord's supper:
http://bible1.crosswalk.com/Commentarie ... =5&verse=8