Winston Churchill is famous to be one of the major opposition of Hitler, one of the most famous dictators of all time.
Because of that, Winston Churchill defends democracy in these words. Democracy may not be a perfect system, but democracy is the only system that makes possible for people to be represented and have a voice at the same time that protects minorities.
In the end, Churchill defends that democracy is the best solution close to the solution that sometimes appears in the political system, that are the dictatorships.