The real lyrics:
Can you hear the praise? / It's louder than the radio

But I misheard them as:
Can you hear the phrase? / It's louder than the radio

The embarrassing moment of revelation:
None really - and it's not a particularly exciting misheard lyric but I thought you'd like to hear of it :-)
I was convinced it was "phrase" for ages, though, until I looked at the lyrics the other day... it almost makes sense, you see...

Age when I realized how wrong I had been:
20

Misheard by:
Peter Scandrett

................................................................................

The real lyrics:
I've been standing with the fatherless. We've been learning how to pray.

But I misheard them as:
I've been standing with a fallen asp. We've been learning how to pray. (It would be too risqué for me to say what I originally thought "asp" was.)

The embarrassing moment of revelation:
I read the lyrics.

Age when I realized how wrong I had been:
23

Misheard by:
Don Anderson

I think my version is better than the original: yes
I am on special medication: yes