Meanings
From the custom of apprentices to a master holding a candle so that the master could see more clearly. The negative version implies that a person who was not fit even for such a simple task was worthless.[1]
How to pronounce "hold a candle":
AU
To compare; to be even remotely of the same quality, skill, etc. as another.
Example: "The old computer just doesn't hold a candle to the latest models."