Rabbi Roodyn

ו) וַתְּחַסְּרֵהוּ מְּעַט מֵאֱלֹהִים וְכָבוֹד וְהָדָר תְּעַטְּרֵהוּ:

Yet You have made him slightly less than the angels, and You have crowned him with glory and majesty.

Our translation of the word אלהים  follows Rashi, Radak and Ibn Ezra (amongst others) who say that (as in other places) it refers to angels. He explains that man can rise to such heights that he can overcome the laws of nature. For example Moshe split the sea, Yehoshua split the river Jordan and caused the sun to stand still and Eliyahu revived the dead.

The Radak explains that man is slightly less than angels, in that although we are both spiritual beings that possess a soul, man is limited by his physical body and its needs, something that does not hold back angels.

Man is crowned with כבוד והדר, glory and majesty. The term kavod  is explained by the Radak as referring to the soul. This is based on the pasuk (Tehillim 30) that we say daily למען יזמרך כבוד, so that my soul may make music to You. Kavod is clearly explained by the commentators as referring to the soul.

This idea is fully in keeping with the theme of our chapter. Our crowning glory is not our physical prowess, there are many beings that are bigger, stronger, faster, more resilient that humans. We are set aside from animals by our superior intellect, which in itself is an expression of an elevated soul, a Divine spark that puts us in the same league as the angels.