FIPS Userspace POST?

It means that you, or your IT administrator, installed the Apple FIPS Cryptographic Module.

If you don't know what it is, you don't need it. To remove it, delete the following items and reboot:

/System/Library/LaunchDaemons/com.apple.fipspost.plist

/usr/sbin/fips

If you've read the article, you know as much as I do.

Back up all data.

Boot from the recovery partition by holding down the key combination command-R at the startup chime. Release the keys when you see a gray screen with a spinning dial.

Note: You need an always-on Ethernet or Wi-Fi connection to the Internet to use Recovery. It won’t work with USB or PPPoE modems, or with networks that require any kind of authentication other than a WPA or WPA2 Personal password.

When the Recovery desktop appears, follow the prompts to reinstall the Mac OS. You don't need to erase the boot volume, and you won't need your backup unless something goes wrong. If your Mac didn’t ship with Lion, you’ll need the Apple ID and password you used to upgrade, so make a note of those before you begin.

What backups do you have?

Before reinstalling your OS, can you explain exactly what problems you are having? Strange messages while booting in verbose mode are not necessarily any indication of a problem.

Reboot normally and see if there is anything wrong.

If you're unable to boot from the recovery partition, your boot drive has malfunctioned, or you have some other hardware fault. At the very least, you'll need to boot from another device and reinstall the Mac OS. Your Mac isn't capable of Internet recovery, so if you don't have anything else to boot from, you'll have to use your installation disc to repartition the internal drive, install 10.6, and then upgrade to 10.7. This will be a waste of time if the drive, or some other component, is failing.

I understood you to say that you couldn't boot into Recovery. If you can, then erase the boot volume and reinstall the Mac OS.