Whaaaale.... that can certainly be fixed. From the looks of it you have both scrape and crush damage. The crushing would cause the "softness" you detected. At least its above the waterline.
Now - there are many ways you could fix that and no matter how someone tells you to do it someone else will say that's wrong so - just saying.
IF that were mine:
Circle the entire area that is "soft" and adding 2 inches around that, inside and out.
I would then be taking my "boat eater" (grinder with a flap wheel) and start in the center grinding out the bad glass without punching through. The grind area would be deepest near the center where the cracks are getting less deep to the edges until finally at the edges it flush with the hull (approx 12-1 taper). Then I would begin gluing layers of glass in that depression starting with small pieces and getting progressively larger as it is built up. Once its proud of the hull - after curing, grind and sand until fair. Then I would go inside do do something similar but not quite so aggressively or deep.
Use some fairing compound, sand off, Paint her up and call it good. A few hours work for me.
You can google fiberglass lay up techniques - I use polyester resin but many folks will insist that you use epoxy because in my opinion they like to waste money. My boat is made of polyester and is nearly 50 years old and hasn't sunk yet so it can't be all bad.
Just my 2 cents.
Good luck.