The battery pack for my SKIL Twist Cordless Screw Driver is dead. Should I buy a new battery?

I placed the battery on the charger for two days and it still would not work. Do I need to place a bit in it before it will work? What are the two little red buttons near the top where the bit goes in. Is it better to leave it on the charger constantly so it works when I need it - once I get it working? In case you can't tell this screwdriver was used by my partner, two years ago he passed away and I am trying to learn how to use some of his tools. Model 2207 Type 1 180 RPM 3.6 V. Thanks.
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