In Shakespeare's play "Hamlet," the quote "Lord, we know what we are, but know not what we may be" reflects the uncertainty of human potential and identity. The speaker acknowledges a self-awareness about their current state but expresses doubt about future possibilities and transformations. This highlights a central theme in the play: the struggle with the unknown aspects of life and the quest for self-knowledge.

The statement serves as a poignant reminder of the limits of human understanding. While individuals recognize their current circumstances and characteristics, the future remains unpredictable. This complexity is woven throughout "Hamlet," as characters grapple with their identities and the consequences of their actions, ultimately raising questions about fate, free will, and personal growth.