+1 for Meguiars Ultimate Compound. You will likely have to put a lot of force on the pad to remove it by hand. A dual action orbital polisher makes it much easier/faster. I have successfully removed a white paint mark on top of the clear coat that was much larger than yours on black Toyota paint by hand but it took around an hour and my fingers were physically sore during and for the next few days because of the amount of force required.
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