נֹצֵ֥ר חֶ֙סֶד֙ לָאֲלָפִ֔ים נֹשֵׂ֥א עָוֺ֛ן וָפֶ֖שַׁע וְחַטָּאָ֑ה וְנַקֵּה֙ לֹ֣א יְנַקֶּ֔ה פֹּקֵ֣ד ׀ עֲוֺ֣ן אָב֗וֹת עַל־בָּנִים֙ וְעַל־בְּנֵ֣י בָנִ֔ים עַל־שִׁלֵּשִׁ֖ים וְעַל־רִבֵּעִֽים׃
keeping mercy unto the thousandth generation, forgiving iniquity and transgression and sin; and that will by no means clear the guilty; visiting the iniquity of the fathers upon the children, and upon the children’s children, unto the third and unto the fourth generation.’
Rashi on Exodus
נצר חסד means God keeps (stores up) the mercy which a person does in His presence,
Sforno on Exodus
נוצר חסד לאלפים, He preserves the accumulated merits of the fathers and will let the children draw on these merits.