in every translation I have seen, one of the sons of God is being referenced as God or O God for a reason; We should be able to see from verse 1 and 6, along with conventional wisdom that God or O God mentioned in verse 8, is not the God of Abraham and his descendants, but one of his children judged and glorified as himself.
This raises an interesting question...when there are "gods" mentioned in the scriptures, it is usually those who either have divine authority, or those who put themselves forward as "gods" in competition with God (e.g satan is called a "god" in 2 Corinthians 4:4.) These are not "gods" in the same way as Jehovah is God, (even though satan wants to be seen as one who deserves our worship) but the humans are authorized by Jehovah to carry out their roles.....angels...human judges...even Jesus Christ himself is a 'god' in that sense, which is why John 1:1 calls him a "god".
Reading Psalm 82 in its entirety we see what is meant....
"A melody of Aʹsaph.
God takes his place in the divine assembly;
In the middle of the gods he judges:
2 “How long will you continue to judge with injustice
And show partiality to the wicked? (Selah)
3 Defend* the lowly and the fatherless.
Render justice to the helpless and destitute.
4 Rescue the lowly and the poor;
Save them out of the hand of the wicked.”
5 They do not know, nor do they understand;
They are walking about in darkness;
All the foundations of the earth are being shaken.
6 “I have said, ‘You are gods,
All of you are sons of the Most High.
7 But you will die just as men do;
And like any other prince you will fall!’”
8 Rise up, O God, and judge the earth,
For all the nations belong to you."
The same Psalm in the Jewish Tanakh adds to our understanding I believe...
"A song of Asaph.
God stands in the congregation of God; in the midst of the judges He will judge.
2 How long will you judge unjustly and favor the wicked forever?
3 Judge the poor and orphan; justify the humble and the impoverished.
4 Release the poor and the needy; save [them] from the hands of [the] wicked.
5 They did not know and they do not understand [that] they will walk in darkness; all the foundations of the earth will totter.
6 I said, "You are angelic creatures, and all of you are angels of the Most High.
7 Indeed, as man, you will die, and as one of the princes, you will fall.
8 Arise, O God, judge the earth, for You inherit all the nations."
You can see how the Jews interpret this Psalm.
Jesus made reference to these "gods" (human judges in Israel) in John 10:34-35 by quoting this Psalm.
That argument of Jesus proves he did not claim to be God. (Reading it in Greek proves this) Had he claimed to be the Almighty, (ho theos, "THE GOD") then the Jews would have been justified in stoning him for blasphemy. But Jesus argues that he claimed to be less than God (theos, just a "god", the "son of God").....so to prove this, Jesus quoted
Psalm 82.
In this psalm the Most High God speaks to the unjust judges on earth, mere men, and calls them “gods,” or
elohím in the Hebrew, and he tells them to correct their legal practice. Because those judges failed in their duty, so it became necessary for the Most High God to arise and judge the peoples of the earth. Their being called “gods” will not save these judges; neither will their considering themselves to be “sons of the Most High” or 'sons of God'. (Matthew 3:9)
But how then does does God "inherit" all nations if they are his to begin with? This requires an understanding of why he needs to do that? How did he lose them in the first place, and in what way does he receive them back as his inheritance? It is key to understand the role of the Christ here. (1 Corinthians 15:24-28)
Paul also wrote that....
"...there are so-called gods, whether in heaven or on earth, just as there are many “gods” and many “lords”. (1 Corinthians 8:5)
So understanding who and what these "gods" are is vital....None of them refer to "the only true God", Jehovah (Yahweh YHWH) (John 17:3) according to my studies.