I heard "Hands" on the radio and actually listened to it just because of this question. I never heard the word "Holly." The closest thing that I did hear was when she said that *heartache* came to visit her, or something like that. I wonder if this is what you heard, too, or if I missed something. With Mellancamp, I assume that the name really has no significance.
"It is more from carelessness about the truth than from intentional lying that there is so much falsehood in the world."