Try replacing the washer first. If it is cracked just replace it. Don't fix it as it would be more work than needed.. Be sure to use two wrenches: one to hold the supply pope stationary and the other to un screw the spigot itself. Take it to the hardware store and get an identical one . Be sure to turn the water to the spigot off before you do anything and use Teflon tape on the threads. Teflon tape and 5 minutes of actual chugging and you're done. really easy!
Misinformation in paragraph above. What if the hose bibb is soldered? What if it is just the rubber washer inside that needs replacing? Waste of money to take the misinformation from above. Not enough info provided from questioner to give that type of misinformation and causing grief and more money than needed!
In my experience, rare indeed. I haven't seen one in 8 to ten years. My statement still stands as above since the cost is minimal (cheap!!)2 to 5 bucks.
Jadeacres