First thing I would do is remove the ferrous screw holding the hose bib to the building and use a non ferrous screw

The handle should be able to be removed with out shutting off the water supply ( But locate the valve just in case)

If it not the packing gland it could the the built in vaccuum breaker that gives a little squirt when the valve is closed

thanks...

1) define ferrous vs. non-ferrous (please).

2) It's a frost free valve, about 10" inside the crawl space wall.

3) forgot to mention...it leaks while running...IF anything is attached (a hose).

4) not sure about the vacuum breaker question.

thanks again...will try going thru the handle,

mf

I'm sorry

Ferrous contains iron suck as the drywall screw holding the bib to the wall non ferrous would be a copper /brass / stainless steel screw so it wont rust.

The leak while running could be the vacuum breaker on top of the valve is defective or sensing back pressure once the hose nozzle is shut off but the pressure remains on

SOLVED...!!!

Took a few days for the WD-40 to work...but I managed to remove the handle & tighten the nylon packing nut.

leak is gone...THANKS very much.

mf

Glad to have been able to help