Fear is a terrible thing. The fear of evil is the result of living as a simple one, a scorner, or a fool. (see Proverbs 1)
"But whoso hearkeneth unto me shall dwell safely, and shall be quiet from all fear of evil."
The fear of the Lord is the opposite of the fear of evil.
The fear of the Lord is discussed often in the Bible. It is many things, but it boils down to our awareness of His presence. (Jim Berg) It is easy to think of it as a fear of his presence, but the reality is that knowing His presence can keep is in line and also comfort us. With the fear of the Lord, there is no fear of evil.
The simple, scorners, and fools do not fear the Lord.
If we fear the Lord - we will be quiet from all fear of evil.
We see something similar in the familiar Psalm 23 passage.
"Yea though I walk through the valley of the shadow of death, I will fear no evil, for thou art with me." The Psalmist had an awareness of God's presence - He feared the Lord. He could fear no evil.
It's so easy to fear evil. It's so easy to fall into the anxiety of what bad things could happen. This is the fear of evil.
That same verse in Psalm 23 goes on to say that the rod and staff comfort him. The shepherd has the tools to take care of His sheep. An awareness of God's presence and of His attributes is the Fear of the Lord, and this can keep us from all fear of evil. Anxiety does not need to have a place in our lives.