A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms shall not be infringed.
There is a "first half" of the Second Amendment and it is of upmost importance. Contrary to the claims that are sometimes bandied about, that "first half" does not recognize a collective right of the government. Instead it specifies the purpose for the Amendment itself (in particular, the "second half" of the Amendment). In fact the BOR is really a list of negatives - actions that cannot be legally taken by the federal government (with passage of the 14th Amendment, that prohibition extends to state governments as well). The 10th amendment makes that crystal clear: essentially noting the fact that unless the federal government was specifically granted a power, the federal government does not hold that power.
"A well educated populace, being necessary to the security of a free state, the right of the people to keep and read books shall not be infringed."
Few would read the above analogy and come away with the belief that it somehow granted the federal government powers.
There is no record (Congressional Record) of a belief (among those who made the 2nd Amendment law) that the 2nd Amendment did anything but restrict the government from taking action with regards to an individuals birth right (to keep and bear arms). There are many conversations (recorded in the record) as to why such a birth right should be recognized. In fact the purpose for the BOR was because it was feared that the federal government would usurp powers not granted it by the states/citizens.
While a convincing argument could be offered that the federal government (and state governments) long ago scrapped the concept of limited governmental powers, there is no rational doubt about the stated intent (of the framers) to create a government entirely dependent upon its citizens/states granting powers to it and not the other way around.
There was no Militia Act of 1794. Not a first and not a second. The second Militia Act was in 1792 and it was followed by the Militia Act of 1795. None of which defined what a "well regulated militia" was or means; though the 2nd Militia Act of 1792 did specify how the militia was to be called to service, trained, and what the expectations were [of the members].
"I. Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That each and every free able-bodied white male citizen of the respective States, resident therein, who is or shall be of age of eighteen years, and under the age of forty-five years (except as is herein after excepted) shall severally and respectively be enrolled in the militia, by the Captain or Commanding Officer of the company, within whose bounds such citizen shall reside, and that within twelve months after the passing of this Act. And it shall at all time hereafter be the duty of every such Captain or Commanding Officer of a company, to enroll every such citizen as aforesaid, and also those who shall, from time to time, arrive at the age of 18 years, or being at the age of 18 years, and under the age of 45 years (except as before excepted) shall come to reside within his bounds; and shall without delay notify such citizen of the said enrollment, by the proper non-commissioned Officer of the company, by whom such notice may be proved. That every citizen, so enrolled and notified, shall, within six months thereafter, provide himself with a good musket or firelock, a sufficient bayonet and belt, two spare flints, and a knapsack, a pouch, with a box therein, to contain not less than twenty four cartridges, suited to the bore of his musket or firelock, each cartridge to contain a proper quantity of powder and ball; or with a good rifle, knapsack, shot-pouch, and powder-horn, twenty balls suited to the bore of his rifle, and a quarter of a pound of powder; and shall appear so armed, accoutred and provided, when called out to exercise or into service, except, that when called out on company days to exercise only, he may appear without a knapsack. That the commissioned Officers shall severally be armed with a sword or hanger, and espontoon; and that from and after five years from the passing of this Act, all muskets from arming the militia as is herein required, shall be of bores sufficient for balls of the eighteenth part of a pound; and every citizen so enrolled, and providing himself with the arms, ammunition and accoutrements, required as aforesaid, shall hold the same exempted from all suits, distresses, executions or sales, for debt or for the payment of taxes."
https://constitution.org/1-Activism/mil/mil_act_1792.htm