“Redeemed” … Christ bought our freedom from sin, death, and the devil, only He paid with His own perfect blood.
“Empty way of life” describes the various ways of living apart from God’s will, such as pursuing evil desires, following other religions, or relying on ritualism or laws to save you. There is no redemption apart from Christ’s work.
“Without blemish or defect” is a phrase from the Old Testament (OT), where a sacrifice had to be perfect. This foreshadowed Christ the perfect sacrifice, free from all sin and worthy of saving all people. Jesus is the final sacrifice for our sins.
Peter describes Christ as the ultimate sacrificial Lamb, who is offered in our place to pay the price for our sins. The analogy here is a reference to the many lambs without blemish that were offered as part of the OT sacrificial system. First-century believers recognized Jesus as the spotless Lamb of God who pays the price for the sin of the world
Blessings on your day…