In a medium bowl, blend the cream cheese and sour cream. Mix in the refried beans, taco seasoning, hot pepper sauce, parsley, green onions, 1/2 the Cheddar cheese and 1/2 the Monterey Jack cheese. Transfer the mixture to an 8x12 inch baking dish. Top with remaining Cheddar and Monterey Jack cheeses.
Bake in the preheated oven 20 to 30 minutes, until cheese is slightly browned.
