Pop open the champagne
Turn out the lights
Leave the candles burning
and our hurts and wounds outside
Don't think any longer
About our past
Let's raise a glass
To having found each other.
now for the literal, since it doesn't flow as nice:
the first bolded line is a continuation of the line before it and also hangs off of dejemos.
dejemos las velas encendidas y (dejemos) afuera las heridas
let's leave the candles burning and (leave) the wounds outside.
hagamos que choquen nuestras copas
let's make our cups touch or clash, or maybe even clink
this refers to the act of touching glasses together when making a toast