Romans 6:4, We were buried, therefore, with Him by baptism into death in order that, just as Christ was raised from the dead by the glory of the Father, we too might walk in newness of life.
Baptism performs two things in us: it kills us in our sin and raises us as new creatures who look toward the resurrection into the new life to come. This is the basic premise of Romans 6. Therefore, when we are in despair over our sin, and when we are distraught over the sins of the world, we can remember our Baptism. In the waters, the Holy Spirit entered into us, cleansed us from the guilt of our sin, and created us anew. As long as we remain in this flesh, sin will continually stir within us. But the Spirit reminds us of our justification in Christ, the new creatures we are, and the new life to come. Being new creatures means we are right with God and pleasing in His sight, even though we daily sin and repent, for His Spirit is recreating us into something new.