Adapted from Sringeri.net
Kala Bhairava represents the march of time. As the fierce aspect of Lord Shiva, Kala Bhairava is the destroyer of all through destroying Time (Maha Kala). He oversees the march of the mysterious time itself, through which he not only controls human life, but also countries and planets as well, ensuring the evanescence (impermanence) of all phenomena.
Hymns on Kala Bhairava highlight a truth; “Time is the most precious. Time lost is lost for ever. Wise people should use every moment of time effectively. Lord Kala Bhairava helps everyone to make one’s time useful.”
The worship of Shiva in the aspect of Kala Bhairava helps one realize the transitory nature of worldly existence and make the most of the rare human birth to realize Brahman, the supreme reality.
Kala Bhairavashtakam has been composed by Adi Shankara, and Jagadguru Sri Shivabhinava Narasimha Bharati Swamigal the 33rd Acharya of Sringeri Math.
Devotees offer vadesara, abhisheka and even silver anklets to Kala Bhairava on ashtami tithi.
If you are endlessly waiting for things to happen and it never happens, this means you have offended time either in this life or previous life All that you need is a worshipful attitude towards time. You can fix the problem by worshiping Kala Bhairava.