Greg,
The hydraulic hose are not to poor of a quality or they would not have lasted 14 years, but I would not recommend trying to repair a leaking 14 year old hose unless it has a specific cut spot that you can add a splice connector at the cut to repair it. If the hose is leaking without a specific cut, the interior has failed and the only repair is to replace it. If you try to splice out the bad section, you will never be trough splicing it.
The original hose had the minimal pressure rating of 2500 PSI, therefore it is commonly recommended to replace it with a higher rated hose when replacement is needed. The normal recommendation is a 5000 PSI rated hose. It is a little more expensive, but it should never fail again.
Gerald