Here's a breakdown:
* Que: That
* la paix: the peace
* soit: be
* avec: with
* toi: you (singular, informal)
* vous: you (plural or formal)
You can also use "La paix soit avec toi/vous" which is a more concise and direct translation, but less common in everyday speech.
Remember that "toi" is used for informal situations, while "vous" is used for formal situations or when addressing multiple people.