If you wish to save an old plaster ceiling that has only a few cracks or holes, a little time and a few materials will do the trick.
1. Minor cracking and small holes can be patched up with some quick drying compound applied with a taping knife and smoothed over.
When that is dry, sand lightly with a sanding block or an orbital sander using 80 - 100 grit sandpaper. Add a thinned finished coat of drywall compound.
2. Bigger cracks should be undercut with the sharp end of a beverage opener to provide a better bond for the compound. Apply a thin layer of quick drying compound over the crack, then embed a piece of fiberglass tape into the compound to cover the crack. This will prevent the crack from spreading or reopening. Wipe another coat of compound across the top of the tape, feathering the compound as flush as possible with the surface of the wall.
After one day of drying, sand lightly with a sanding block or a orbital sander then add another layer of compound and feather it out flush with the wall.
3. Once the holes and cracks are filled, covered, feathered and completely dry, sand them once again so that they are smooth and flush with the wall. Then you are ready to cover the repair with a primer before painting or sizing if wallpapering.



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