He obviously doesn't want to get back together with the girl. However, there's always that feeling of 'hope' [that he mentions a few times] that maybe she will treat him better -- it seems as though she had devastated him when they broke up.
He knows that deep inside he still loves her, and if she's ready to get back together with him, then he'd accept it. That's why he'd "rather have a broken heart than give up hope on you".
He obviously doesn't want to get back together with the girl. However, there's always that feeling of 'hope' [that he mentions a few times] that maybe she will treat him better -- it seems as though she had devastated him when they broke up. He knows that deep inside he still loves her, and if she's ready to get back together with him, then he'd accept it. That's why he'd "rather have a broken heart than give up hope on you".