Yes, it does suggest that one needs to apologize to those they have offended--and make things right with them.
Remember what Jesus also taught in the Lord's Prayer:
And forgive us our debts, as we forgive our debtors. (Matthew 6:12,
KJV)
If we desire to have God forgive us, we need to forgive others. Jesus taught the same principle via a parable found in Matthew 18.
23 Therefore is the kingdom of heaven likened unto a
certain king, which would take account of his servants.
24And when he had begun to reckon, one was brought unto
him, which owed him ten thousand talents. 25But forasmuch
as he had not to pay, his lord commanded him to be sold, and his wife,
and children, and all that he had, and payment to be made.
26The servant therefore fell down, and worshipped him,
saying, Lord, have patience with me, and I will pay thee all.
27Then the lord of that servant was moved with compassion,
and loosed him, and forgave him the debt.
28But the same servant went out, and found one of his
fellowservants, which owed him an hundred pence: and he laid hands on
him, and took him by the throat, saying, Pay me that thou owest.
29And his fellowservant fell down at his feet, and besought
him, saying, Have patience with me, and I will pay thee all.
30And he would not: but went and cast him into prison, till
he should pay the debt.
31So when his fellowservants saw what was done, they were
very sorry, and came and told unto their lord all that was done.
32Then his lord, after that he had called him, said unto
him, O thou wicked servant, I forgave thee all that debt, because thou
desiredst me: 33Shouldest not thou also have had
compassion on thy fellowservant, even as I had pity on thee?
34And his lord was wroth, and delivered him to the
tormentors, till he should pay all that was due unto him.
35So likewise shall my heavenly Father do also unto you, if
ye from your hearts forgive not every one his brother their
trespasses. (Matthew 18:23-35, KJV)
When we make things right with others, it honors God; and God will honor those who honor Him.