I need to change the whole thing. I have not one idea how to go about this.

I know I have to turn the water off and after that I am kinda lost..

Any info or websites that could let me print out step by step instructions would be greatly appreicated.

Getting kinda tired of using the wrench for a hot water handle :D

http://www.lowes.com/lkn?action=howTo&p=Repair/RepFaucet.html&rn=RightNavFiles/rightNavHowTo

I depend on Lowes a lot :D I also buy home repair manuals at garage sales and church sales. those help me out often as well!

The part you need is called a valve stem. If there is a Home Depot nearby, go to the plumbing department and ask someone there. You'll also most likely need another knob, because the old one is probably stripped. Most of the employees ay Home Depot are pretty knowledgable, so they'll explain it to you. I hope this helps..

HGTV's website or DIY's website usually have lots of instructions for things like that to print off the internet and the instructions are geared toward people not used to doing repairs!

You won't believe this until you see it for yourself, but search PTO for a thread about fixing a leaky faucet. It may or may not help but it is better than David Letterman. It's very old.