The Immaculate Conception means that Mary, whose conception was brought about the normal way, was conceived without original sin or its stain—that’s what “immaculate” means: without stain. The essence of original sin consists in the deprivation of sanctifying grace, and its stain is a corrupt nature. Mary was preserved from these defects by God’s grace; from the first instant of her existence she was in the state of sanctifying grace and was free from the corrupt nature original sin brings.
When discussing the Immaculate Conception, an implicit reference may be found in the angel’s greeting to Mary. The angel Gabriel said, “Hail, full of grace, the Lord is with you” (Luke 1:28). The phrase “full of grace” is a translation of the Greek word kecharitomene. It therefore expresses a characteristic quality of Mary.
source: http://www.catholic.com/tracts/immaculate-conception-and-assumption
