Fight bad free speech with good free speech. If one side can win others over to hating people, win them back and more with persuasive words.

Here's the problem.

This does not work.

It's not like the playing field is unequal.

It is. "The immigrants are stealing your jobs" is a far easier to accept worldview than "Several technological advances and economic changes have reduced the demand for the job your family has been in for generations."

People are simply more willing to accept that a singular boogeyman is to blame for their problem, rather than the countless interlocking systems of human society, which are beyond comprehension by a single person. (Which is not too surprising, things that are beyond comprehension are a cornerstone of lovecraftian horror)

The nazis were not stopped by "good free speech".