He said: "This is a heartbreaking situation for me ... I'm upset ... From the day I was born, and publicly, I've been a gay rights activist ... This person had been following me around all day saying hurtful things.
"I played into exactly what he wanted and I said a disgusting word ... It's bulls*** and I shouldn't have said that. I'm happy to take the heat for using this disgusting word."
Hill went on to stress his desire that people don't think he is homophobic after making the remark.
He added: "What I won't allow is for anyone - it would break my heart to think that anyone - especially with all the work that I've done and all the loved ones that I have - that I would be against anyone for their sexuality."
Hill's thus-far stainless Hollywood reputation may have been marred by the footage, but the actor has been a strident supporter of LGBT rights issues in the past.
He publicly addressed his opposition to Russia's anti-gay laws ahead of the Sochi Winter Olympics and bought into the 'Love Conquers Hate' T-shirt wearing trend adopted by the famous to pledge their support for the persecuted gay communities in the country.
Explaining why he chose to take part in the campaign, he told E! News at the Governors Awards: "I have tons of gay friends, gay family members. It's like saying, 'Why do you think people should breathe?'
"I support anybody doing whatever they want to do to be who they are."
It comes just days after footage emerged of Justin Bieber telling a racist joke when he was 17. He apologised, said he had grown into a man since then, and was "very sorry".
- Bang! Showbiz with the Independent
