Heat olive oil in a Dutch oven over low heat. Add onion, Spanish chorizo, carrot, red bell pepper, and garlic; cook 10 minutes or until tender, stirring frequently. Add water, chicken broth, lentils, potato, chopped tomato, and pepper sauce; bring to a boil. Reduce heat, and simmer 30 minutes or until lentils are tender. Stir in salt. Sprinkle with Parmesan cheese.