I'm pretty sure that "it" is the sin we face. This line is saying that we see the true and terrible impression sin can have on us and that it's a very important thing to fight it with strength from God.
I think,"It's nothing" (from Fight Inside) is just the opposite, and that this is the part of us that is trying to push sin into the back of our minds. To just say, "it's nothing", and let it remain in our lives.
In this line at the end:
"It's everything, It's everything"
I'm pretty sure that "it" is the sin we face. This line is saying that we see the true and terrible impression sin can have on us and that it's a very important thing to fight it with strength from God.
I think,"It's nothing" (from Fight Inside) is just the opposite, and that this is the part of us that is trying to push sin into the back of our minds. To just say, "it's nothing", and let it remain in our lives.