The Davies-Meyer compression function $h(H, m) = E_m(H) \oplus H$ is said to be secure. So too is the Miyaguchi-Preneel compression function $h(H, m) = E_m(H) \oplus m \oplus H$. Why are these secure? How do we know that they are secure?
The detailed technical analysis is given in the following research paper:
They show that Davies-Meyer and Miyaguchi-Preneel are secure, assuming the block ciphers can be modelled as "ideal ciphers" (that have no regularities or patterns beyond that implicit in the very definition of a block cipher).
In a nutshell, an ideal cipher assumes that, for each key $k$, the function $E_k(\cdot)$ can be treated as a totally random permutation on the set of all $2^n$ possible texts, and these permutations for different keys $k$ are independent.
In other words, you can think of an "ideal cipher" as a black box where you send it a key $k$ and a plaintext $x$ and it responds with a ciphertext $c$. It behaves in a very special way. When you feed it a key $k$ and plaintext $x$, it picks a totally random ciphertext $c$ uniformly at random and gives you $c$, subject only to the following two consistency restrictions:
That's the definition of an ideal cipher.
It is possible to use various mathematical techniques to prove that if you apply the Davies-Meyer or Miyaguchi-Preneel construction to an ideal cipher, the result will be a secure compression function. Therefore, if our block cipher acts like an ideal cipher, then we can expect that Davies-Meyer and Miyaguchi-Preneel ought to be secure.
That's the basic idea. You'll need to read the research literature to get the full details.