Fixing leaky outside Faucet?

Hey guys. What's the best way to fix a leaking outside faucet? The knob to turn it on/off looks like it screws on with a 22mm bolt. Almost like it should twist off. But with Galvanized piping, I don't want to twist if I take a chance of snapping something off. Basically, you turn on the faucet, and you end up getting squired from the knob... Any ideas?
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Just under the handle, you should see a nut, and a_bit_ of judicious tightening may help the problem. Check back. Tom Someday, it'll all be over....
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Actually Tom, there's nothing under the handle. All there is is the handle with a screw. Removing the screw exposes nothing :) I'm game for just replacing the handle, but if all it is, is a seal, I'd rather go that route. I've never had one of these off, and because of the age of the place (40 or so years), I'm afraid to go twisting pipes.. What do you think?

to
faucet,
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look harder. Someday, it'll all be over....
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