In the bible, the name of God is not just a tag, but it represents him. As such, not only are we to not use it lightly, but we are to afford it due glory and praise.
Just as Jesus gave glory to his Father, so we are to glorify God in all we do. In order to praise God, we need to know him personally. We need to know God as he really is, not some figment of our imagination, but as he reveals himself in the bible and in creation. This is the God who is eternal and infinite, almighty and omnipresent, who sees all and knows all, who is holy and just, merciful and loving. It is because of these things, he is worthy of all glory and praise.
In the opening lines of the Lord’s prayer, we seek to hallow God’s name, to set him apart from everyday life, and yet have him involved in our everyday lives. Just as we should avoid doing anything which would bring the name of Christ into disrepute, so we should seek to do that which glorifies the name of Christ.
On our own, we cannot do these things, for our nature is sinful. We need to have our sin dealt with by the one who is to be glorified. By the sacrifice of Christ, we can have our sin taken away from us, and his righteousness become our own.