no, Hi8 is strictly analog and it would not be able to interpret the digital recording on the Digital 8 tape. Going the other way, some of the Digital 8 devices were made so they could play Video 8 and Hi 8 tapes. the actual tape cassettes are the sa...
Here's a great camcorder buying guide: In addition to Sony, I suggest that you also look at Canon and Panasonic.
You are right, the Hi8 camcorder is analog and unfortunately there is no easy fix for your problem. While the Digital-8 camcorders were designed to play Hi8 tapes, the reverse is not true. My suggestion is to take your tapes to a business that can tr...