This is a two chord song, base of C with switches to F.  It can be played with traditional chord fingerings. 

However, another effective way of performing it that makes improvising easy is to use an alternate tuning. 

Tune the guitar for open strings from low E to high E as follows: 

E  C  E  G  C  E 

This gives you the C chord without using your fingers.  The barre the fifth fret and you have the alternate F chord.  Simple as that. 

(C) I know what it's like to have failed with the whole world looking on. 
(C) I know what it's like to have soared crashing like a drunk on a barroom floor. 
(C) I know you've got no reason to trust me.  My confidence is a little rusty. 
(F) But if you don't feel like being alone. (C) 
(F) Baby I could walk you all the way home. (C) 

(C) Our old fears and failures, baby, they do linger 
(C) Like the shadow of that ring that was on your finger. 
(F) Those days, those days have come and gone. (C) 
(F) Baby I could walk you all the way home. (C) 

Insturmental in (C) 

(F) Love is nothing but shadows and vapor.  We go on as is out sad nature.  (C) 
(F) It's an old Stones' song the band is trashin'.  If you feel like dancin', baby, I'm askin'. (C) 

(C) Well it's comin' on closing time.  Bartender, he's ringin' last call. 
(C) These days I don't stand on pride, being afraid to take a fall. 
(F) Seen what you like, maybe your first choice is gone. (C)  Well it's all right. 
(F) Baby I could walk you all the way home. (C) 
(F) Baby I could walk you all the way home. (C) 

(C) instrumental out