The verb live means remain alive. If you hope to live until you're 100, start eating vegetables.
When live rhymes with give, it's a verb that has to do with existing — being or staying alive, or making your home in a particular place, like when you say, "I live on the planet Earth for the time being." When live rhymes with hive, it is an entirely different word with a very similar meaning, an adjective that means "not dead", or "living". So you could describe your two pet fish by saying, "The one on the left, floating upside down, is the dead fish, and the one on the right is the live fish."