first thing first, turn off the water!! if the faucet is threaded, than hold the pipe with some channel-locks and un-screw the faucet with another pair. if it is soldered, than heat the pipe with a torch until the solder melts and pull off the faucet with channel locks. IT WILL BE HOT!! after that, take the faucet to the hardware store and ask someone for a replacement. then, just either solder the new one on or twist it on tight. it will cost about 5$ for the faucet and a bit more for the solder, threading, ect, unless you already have it.
Evan, March 2010