Innodb Row size too large (> 8126). (no replies)

Hello All

I have encounterd a problem on engine conversion from myisam to innodb, it shows error like:

ERROR 1118 (42000): Row size too large (> 8126). Changing some columns to TEXT or BLOB or using ROW_FORMAT=DYNAMIC or ROW_FORMAT=COMPRESSED may help. In current row format, BLOB prefix of 768 bytes is stored inline.

To resolve following issue , i have change on my.cnf.

my.cnf
innodb_file_format = Barracuda
innodb_file_per_table = 1

and used on alter command.
Alter table <table_name> engine=innodb ROW_FORMAT=DYNAMIC;

It solves my issue but our team concern about the performance,security and possible error arise after following changes.

So i reqest all of you , can any one please suggest me the better alternavite solution for current issue , and what will be the performance impact on this changes.

thanks in advance.