Old English specan, variant of sprecan "to speak, utter words; make a speech; hold discourse (with others)" (class V strong verb; past tense spræc, past participle sprecen), from Proto-Germanic *sprekanan (source also of Old Saxon sprecan, Old Frisian spreka, Middle Dutch spreken, Old High German sprehhan, German sprechen "to speak," Old Norse spraki "rumor, report"), from PIE root *spreg- (1) "to speak," perhaps identical with PIE root *spreg- (2) "to strew," on notion of speech as a "scattering" of words.
The -r- began to drop out in Late West Saxon and was gone by mid-12c., perhaps from influence of Danish spage "crackle," also used in a slang sense of "speak" (compare crack (v.) in slang senses having to do with speech, such as wisecrack, cracker, all it's cracked up to be). Elsewhere, rare variant forms without -r- are found in Middle Dutch (speken), Old High German (spehhan), dialectal German (spächten "speak").
Not the primary word for "to speak" in Old English (the "Beowulf" author prefers maþelian, from mæþel "assembly, council," from root of metan "to meet;" compare Greek agoreuo "to speak, explain," originally "speak in the assembly," from agora "assembly").