My toilet water is continuously running and the water in the cistern is way above the maximum water line
To the right of the picture you have taken there should be another part that fills the tiolet. Inlet valve. On top of it there should be a knob or screw turning it anticlockwise this should lower the water level after the next flush. It maybe this simple or it may be a sticky or perished valve in which case it will continue to dribble after reaching cut of hieght. If this is the case it may be cheaper and quicker to replace the whole inlet valve. They are around 15 to 20 dollars at Bunnings and 10 min swap over. JDE
Try this and if it proves to be to tricky ask the plumbing specialist at your nearest Bunnings to show you how to adjust the height of the inlet valve.
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Great to see you get a couple of prompt replies. I trust you now have the information you need to tackle the problem, but please don't hesitate to post again if you need further assistance.
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Awesome, thanks so much for letting us know @r-tali. Great result.