I have the digitech distortion factory pedal and the two wires in the battery-holding part have broken. One wire is still attached, the second wire is out...soldering?
yup. I would buy another battery holder. The best are heavy ones duty found in local electronic shops because they are made out of plastic. I would also use shrinkable sleeve to reduce the risk of a live wire touching a ground. (shrinkable sleeve is just used to cover soldering. It shrinks with heat)