It's the cold water Solenoid that needs replacing. They are very easy to replace and not that expensive. What the cold/hot hoses connect to on the back of your machine is the actual solenoid behind the panel.
Alternatively you can just connect the cold water to the hot inlet on your machine to wash only in cold water. You must connect the cold to the hot as the water may leak back through the cold inlet on the machine.
handyman-vic.com.au, October 2005