It is possible to obtain both the Ring of Hircine and the Savior's Hide as quest rewards, despite the fact that the quest is designed to only give you one of them. They will commend your good work and turn Sinding's skin into the Savior's Hide, a low-level armor piece that lacks in armor rating but has decent enchantments with Magicka and Poison Resistance. After killing him, interact with his corpse to skin Sinding, which will trigger Hircine to appear once again.
If you can transform into a werewolf, even at low levels, this battle should be fairly easy, however, and you should be able to knock him around with ease. If you refuse to help Sinding, or if Hircine sends you back to finish the job, you will have to battle against a fairly difficult werewolf, especially if you are at a low level.