burton's translation is not a "word by word" mode, imo, it's quite good, if you understand the assumptions.
first, "受持" (vigrāhayati, to accept and maintain faith) is a specialised term.
the last character 受, i guess it's a short form of 受生 (utpadyamāna, being produced or generated)
the verse quoted, i would interpret it as:
if (若) there's a woman (有女人)
hears (聞) this (是)
bodhisattva medicine king's 藥王菩薩
former affairs (本事)
able to (能)
accept and maintain faith (受持 vigrāhayati)
when (assumed) complete (盡 --> complete the life of) this (是) female body (女身)
afterward, (後) not again (不復) being produced (受 -->受生, utpadyamāna) as woman (assumed)
the underlying assumptions are:
in ancient buddhism, females are consider inferior than males. that, only males are able to attain buddhahood (成佛)
the verse emphasizes the greatness of lotus sutra (妙法蓮華經), that even an inferior being, such as "woman", if she can "hear, accept and maintain faith" in one of its chapter, she made good karma. with such good karma, she can avoid to reincarnate again as female; that she would reincarnate as a male, so, have chance to attain buddhahood.
very appealing in ancient patriarchal society, for females who are able to read.
edited, to rectify my mistakes.
in chapter 12 "提婆達多品", of lotus sutra (妙法蓮華經), there's a story of "dragon girl" (龍女).
sāriputta (舍利弗) said:
then, a dragon girl (龍女) suddenly changed to male; afterward, "attained buddhahood" (成佛).
. . .
hope it's correct now :)