It is not as difficult as you may think to repair a stripped outdoor faucet. The first step is to turn off the water supply at the meter. Hold the pipe behind the outdoor faucet with a pair of channel-lock pliers. This will protect the pipe from being twisted or broken. Use an adjustable wrench or a crescent wrench to turn the faucet counter-clockwise to loosen it. Apply some Teflon tape to the threads of the pipe, wrapping the tape around the pipe several times in a clockwise direction. Install the new faucet, turning the wrench clockwise to tighten. Turn the water supply back on and check for any leaks.