What are the steps I need to take to fix this outdoor faucet leak? Would I need to turn off the(02)

What are the steps I need to take to fix this outdoor faucet leak? Would I need to turn off the(02)

Image gallery: Leaking Garden Faucet

How To Replace A Leaking Outdoor Faucet at Sam Kyle blog How To Replace a Leaking Outside Faucet In 5 Minutes - Garden Faucet / Hose Spigot - YouTube What are the steps I need to take to fix this outdoor faucet leak? Would I need to turn off the