Alhamdulillahi hamdan yuwafi ni'amahu wayukafi u mazidah
I learned this from listening to recordings of a tausiyah by Shaykh Imran Angullia held at Madrasah Irsyad Zuhri in Singapore, on 16 October 2015, that that is the best way to praise the Lord for His blessings and bounties.
Some ulama said the best phrase of praise is Alhamdulillahi Rabbil Alamin, but majority of the ulama is in agreement that the best phrase to say in order to praise Allah is Alhamdulillahi hamdan yuwafi ni'amahu wayukafi u mazidah.
And when things are not going too well for us, we say Alhamdulillah ala kulli hal. [In case you didn't know this before].
That's all for today. May your day be filled with sakinah and happiness : )