Pick over beans and remove small stones and foreign substances. Rinse beans in cold water. Add beans to large pot and cover completely with cold water. Soak beans overnight over for several hours. Drain beans and shell, or blanch first. To blanch, bring a large pot of water to a boil. Add beans and cook for 1 minute. Remove from boiling water and dip immediately in large bowl of ice water. Drain, and shell.
Cook shelled beans in a pot of salted boiling water until tender, about 10 minutes. Do not overcook or beans will become soft and mushy.
To make the sauce, heat oil in a large saucepan over medium heat. Saute onions and garlic until golden brown. Stir in red pepper flakes, tomato sauce, hot water, parsley, salt, pepper and paprika. Bring to a boil, reduce heat and simmer for 30 minutes. Adjust salt as needed.
Gently stir in fava beans. Remove from heat and let stand for several minutes to allow flavors to meld.