Lyric discussion by FilosofoMusicale 

Cover art for Captain lyrics by Dave Matthews Band

What I find kind of interesting in the meaning of the words is the phrase/idea of "I am the captain of this ship" is derived from Platonic/Neo-Platonic philosophy, which believes, in essence, that the Soul is the captain or driving force for the body (thus ship.) Along with all the references to death and the brevity of life, it is kind of fitting. I am not certain that Dave is quoting neo-platonic thought, but it certainly meshes with the idea.

I also find the lyrics "I don't want your pity, just the promise that I'll be okay" one of the most telling and useful mantras concerning life (I am not as fond of the busted stuff change to "promise that you'll stay with me"...kinda turned it quasi-romantic for me; I liked the Lillywhite Version better.)