The equation describes a mechanical system with friction/energy dissipation. Or in formulas $$ \frac{d}{dt}\left[\frac12\dot x^2+\frac14(x^2-a)^2\right]=-ϵ\dot x^2. $$ So as long as the particle the system describes is in motion, it will lose energy and move down to one of the minima $x=\pm\sqrt{a}$, which both are stable equilibrium points of the equation.