A 'hackback' is when you devastatingly (and at exactly the correct moment) cut through a flow of verbal abuse being directed at you - by using your own brutally accurate observations about your assailant's lack of intelligence, lack of good looks etc. All of those then pale into insignificance, as with rapier-like accuracy, you finally observe that your assailant is also well known in his or her peer group, as being someone who is completely unable to string any sentence together that lacks at least ten repeated swear words.
"Who says words can't kill? I looked at the bullyand then chose my exact moment to deliver him a killer hackback. He left me and my friends completely alone after that."