2 Tried often to the scathe of many dear,

Tried > Tested [in his prowess] scathe > harm, damage dear > grievously

3 That none in equal arms him match might,

That > [Such that; so that] equal arms > impartial combat might > could

4 Which, his mother seeing, began to fear

began > [she began]

5 Lest his too haughty hardiness might rear

haughty > high; proud, arrogant rear > arouse, bring into existence

6 Some hard mishap, in hazard of his life: 7 For-thy she oft him counselled to forbear

For-thy > For this reason