For you know well that life contains strife, bitterness, work and death.
"wot" is an archaic word:
Student or Learner
What is meaning of
"For well ye wot that of this life
There comes but lewd and bitter strife
And death of men and great travail."
ye wot = ihr wisst
In Spencer's and Shakespeare's English, I'd translate "travail" as trials and tribulations, rather than as work.
This sort of 'wot' exists, colloquially, in the pseudo-hyperformal 'of which I wot not', and in the fossil 'wot-not' - used to describe this piece of furniture: http://www.riseleycottage.com/images/08wotnot.jpg. As it's hard to describe, it's often heard and understood as 'what-not'.
Travail in Webster's
Middle English, from Anglo-French, from travailler to torment, labor, journey, from Vulgar Latin *trepaliare to torture, from Late Latin trepalium instrument of torture, from Latin tripalis having three stakes, from tri- + palus stake —
Basically saying: work is torture. All agreed?? Thought so!