1 Behind his back he bore a brazen shield, 2 On which was drawn fair, in colours fit, 3 A flaming fire in midst of bloody field,

bloody > blood-red field > {Surface of the shield; a technical term in heraldry}

4 And round about the wreath this word was written:

wreath > {Representation of a ring or circlet used as a bearing or device; another heraldic term} word > declaration; motto, phrase

5 Burnt I do burn. Right well beseemed it,

beseemed it > [it seemed appropriate]

6 To be the shield of some redoubted knight; 7 And in his hand two darts, exceeding fleet

fleet > swift, fast-flying

8 And deadly sharp, he held, whose heads were dight

dight > decked, prepared; hence: dipped, steeped