A simile is a figure of speech which compares two explicit objects or the words are used for exemplifying it. In other words, simile refers to the demonstration of like characteristics from one thing to another. It is introduced by 'like' or 'as'.
In the above poem, a simile is used in 'hold it like a candle flame' wherein 'hold it' refers to hold love like we hold a candle flame preventing it to extinguish. Similarly, it asks to hold love preventing it to separate.