Scrub and peal potato. Cube into bite sized chunks and boil in salted water just until tender.
In a small saucepan, cook bacon over medium heat until crisp. Using a slotted spoon, remove to paper towel. In the drippings, saute onion and garlic until tender. Stir in the flour, basil and pepper until blended. Gradually add broth. Bring to a boil; cook and stir for 4minutes.
Add the cream, cubed potato and hot pepper sauce if desired; heat through (do not boil). Top each serving with bacon, cheese and parsley.