This was not the first time the French tried to take the island, but it was the last. The French Invasion of the Isle of Wight was part of a string of battles that took place throughout July in the English Channel, including the Battles of the Solent (during with the Mary Rose was sunk) and Bonchurch. Thought details are hazy, some accounts say the French got their asses handed to them pretty easily.
The French planned to land at Whitecliff Bay and attack Sandown, but they were attacked and eventually pushed back, probably by soldiers sent from the mainland (local inhabitants were few at the time). The soldiers were ready for the French when they arrived, so French forces were unable to take the high grounds they needed to effect a victory. The French moved on to Seaford on 25 July, but there too they were pushed back, and the French fleet returned to Boulogne, which they were blockading.
Just under a year later, worn out and nearly penniless, the French and English agreed to the Treaty of Ardres, which ended hostilities between France and England. For the time being, at least.