Let us look very closely at both passages.

In Psalm 8:4-5, David wonders about the purpose of the creation of man. We read, in the New King James Bible: “What is man that You are mindful of him, and the son of man that You visit him? For You have made him a little lower than the angels, and you have crowned him with glory and honor.”

David proceeds in the next verses to show that man has received dominion over the animal world (verses 7-8).

In the margin of the New King James Bible, it is stated that in the Hebrew, the word for “angels” is “Elohim,” which means “God.” (Compare the footnote in the Elberfelder Bible and the Schlachter Bible.) While translations such as the New International Version and the Living Bible render it, “angels,” the Revised Standard Version, the English Revised Version and the American Standard Version say, “little lower than God.” So also the revised Luther Bible (“Gott”) and the Menge Bible (“Gottheit”).