We need to understand three words here. The first is "worlds," which is the Greek aion meaning "ages," "periods of time," or "dispensations." The author is not referring at all to the created world—the earth. He means periods of time.
The second word is "framed," which gives the impression of a person building something, but that is not the author's intent. The same word appears in Hebrews 10:5, "Sacrifice and offering You did not desire, but a body You have prepared." This translation points to a different connotation.
The third word is "word." Normally, a Bible student would probably immediately think of logos as being the Greek for "word," but such is not the case here. It is instead the Greek word rhema, which means "the revealed word."
A good paraphrase of verse 3, then, would be: "By faith we understand that the ages were prepared by the revealed word of God." This verse is telling us that there is an unseen hand somewhere that is guiding the course of the periods through which mankind has lived! In other words, God is working out a purpose! People with faith look to the purpose He is working out and what He has revealed, and they see His hand guiding the destiny of nations as well as individuals.
This is an interesting, encouraging, faith-building concept because God is never far from the thoughts of a faithful person. Such a person, because he has had the mystery of God revealed to him—the purpose He is working out—begins to see God in everything that is happening because God is his companion. He has a relationship with Him. Because of his fellowship with God, he tries to see everything through God's eyes, as it were.
When God calls, one of the miracles He works in us by His Spirit gives us insight into His movements in the history of man. The Christian begins to see God in his environment, the earth—and discovers that it is all under God's control.
We can see where God says, "I raise up kings. I put down kings." Sometimes these are "the basest of men," but because we are beginning to think like God, we understand why He does such things. In Romans 13:1-2, we find out that all governments are ordained of God. He at least permits them to govern, and sometimes He directly installs them.
God is guiding and controlling events. Men think they are in control of what is happening, and some even think Satan is in control. No, God is in control. He is working out a purpose, and Satan is subject to Him and can only do what He allows him to do.
The psalmist says that God is not in all of the ungodly man's thoughts (Psalm 10:4). Andre Maurois, a French philosopher and writer, once said, "The universe is indifferent. Who created it? Why are we here on this puny mud heap, spinning in an infinite space? I have not the slightest idea, and I am quite convinced that no one has the least idea." This is the way man looks at things, but Christians had better not look at them like this because they will not operate by faith. If we are operating by faith, we can begin to see events and circumstances in their fuller scope, as well as how they fit and how important they are to the purpose God is working out.