What is humility?

Lovely answer by Carl Rex Hubbard II on a forum:

In your opinion, what is humility? Is humility a virtue or a vice? Is it possible to have both humility and pride?

My view is this. Humility is an awareness of one's limitations. It is an honest evaluation of what one is capable of and how one stands in relation to one's circumstances.

Humility is a virtue, though it is a contingent virtue. It is a virtue in most situations but not all. 

It is possible for someone to be both humble and proud. Here is an example. 

A gold medalist can be proud of his achievement. He can proudly claim to be the best in the world at his sport. But at the same time he must admit that it was only with the help of his trainers, family, and friends that he was able to win. He must acknowledge the ability of his opponents and he must admit that he may not be the victor the next time he competes. 

If he has this attitude, then he is both proud and humble. 

We can all be proud of the fact that we are smarter than most. But we must also admit that we are not the smartest, that our intelligence is no guarantee against error, and that intelligence without work ethic means little.

Carl Rex Hubbard II