Assuming you didn't move the tracks forward or backward after recording you can try to invert the phase of track 1.
That should cancel out with the rerecorded signal on the other track.
To invert the phase of track 1 activate the button that's left of track 1's mute button.
With the fader of track 1 you can adjust the amount of cancellation.
hth
Blechi
Edit: I'm too slow for this forum ...
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