This one Sanskrit word has many beautiful meaning.
Bhãi means fear! Rav means to remove.
Bhairav is the one who removes your fear. But how?
For this we look at a no the meaning of Bhairav.
It means the one who plays with fear.
Unless and until you don't attempt that which you hear you don't play with that which you hear you will not be free from fear.
Bhairav also means by looking at whom Fear runs away.
Once you start playing with fear fear is Scared of you.
This was my experience of BHAIRAV in my recent visit to Ujjain the land of BHAIRAV.
BHAIRAV has 3 sounds within it, BHA RA & VA
BHA represents Bharan Karta means the creator.
RA represents Ravan Karta means the Sustainer.
VA represents Veryaran Karta means the Transformer.
Bhairav has the whole Trinity within him, and maybe so the shaivism tantra has called Bhairav the highest level of self-realization.
But this state can only be achieved by the fearless.
Bhairav being the highest it is also known as the servant of Shiva.
Yes, the one who serves is the highest and so it is said that the Kala of Hanuman were greater than the Kala of Ram.
This reminds me of another meaning of Paris mentioned in the trika tantra which is now known as Kashmiri tantra.
It says BHARNTIKĀ ITI BHAIRAV, the one who completes you is Bhairav.
I can go on and on explaining this one word Bhairav; but I will like to end over here saying "be fearless - be complete - be yourself B-H-A-I-R-A-V"