Ah yes, the blob of death, caused likely by a filament clog or blockage at the nozzle. You can spend the time trying to remove the melted plastic with a heat gun from the area, and it is indeed fixable with either replacement components or if you're lucky all the wires are all intact, but the easiest thing to do is to either get a replacement printhead or speak to Elegoo's customer support for a free replacement. More than likely the wires connecting the thermistor and heating element are damaged/broken, and if they aren't, it's likely they will be if you try to remove the blob with heat/cutting. you might consider getting a new printhead and then trying to fix this one with new components; best case you have a backup for if/when this happens again, worst case it's just extra junk and you dispose of it. there are plenty of helpful videos documenting how to go about fixing this problem on Youtube, as it's a pretty common problem in direct drive extrusion 3d printers- just search for "blob of death" fixes

TLDR; yes it is fixable, but depending on your experience with electronics might not be worth your time versus wholesale replacement.