This brief psalm has engendered must discussion and debate. Therefore, we seek to cover it in two podcast. This is part 1. 

82:1 God stands in the congregation of God and He judges in the midst of the gods.
The Hebrew term Elohim is the first word and the next to last word in the verse. Much of the debate centers are who are intended by this second use of Elohim.

We mention three possibilities as to the identity of the second Elohim in 82:1.
1. They are human rulers. 
Human rulers seem to be indicated by the use of the term Elohim in Exodus 21:6; 22:8-9. The judges were to judge based on God's righteousness and holiness and therefore judgment is said to be for God in Deut. 1:17 and II Chron. 19:6-7.
Psalm 45:6-7 Though Israel did not view their king as Divine (God) as some nations, he is addressed as Elohim in Psalm 45:6-7. Solomon is said to sit on the LORD's throne in I Chron. 29:23. 

2. They are angels or spirits
Job 1:6; 2:1; 38:7 The phrase "sons of God' seem to refer to angels. 
Deut. 32:8-9 especially the LXX translation
Deut. 32:17 compare I Corinthians 10:19-21
Daniel 10:13, 20-21; 12:1 shows angels and spirits active in the world though our knowledge of what they do is limited.
Ephesians 6:12 Angels and spirits are active in the ongoing struggle between right and wrong, good and evil. 
Revelation 12:7-9 

3. They are other gods- Ps. 95:3; 96:4
It may be a polemic against false gods to show them being rebuked by the true God.  Even if that is not done here, it is done in passages like Psalm 29. This is an understandable view. 

Was Israel monotheistic? Did they (and should we) believe in one God?
Just look at these verses 
Deut. 4:35, 39
Deut. 32:12, 39
II Kings 19:18-19; Isaiah 37:19-20
Isaiah 41:21-24
Isaiah 42:8
Isaiah 43:11-13
Isaiah 44:6, 24
Isaiah 45:5-7, 20-23
Isaiah 46:9
Mark 12:29-30, 32
Romans 3:29-30
Galatians 3:20
I Timothy 1:17