Sand the area down lightly with a palm sander etc. just to rough up the paint & existing mud.
Take a sharp pocket knife and "clean out" the crack in a small "V" shape (I do this all the time and the results are fantastic).
Put thin layer of drywall compound in and around the crack, then cover with FIBERGLASS TAPE (never use paper tape, the stuff is crap).
Feather more mud out with a large seaming knife (10 inches is typical, but I do it with a 4" blade, it's not hard if you've got a good eye).