I fixed the leaky Steese house kitchen sink 2010-06-12. It's a "cartridge-type" faucet, where a stainless steel wiper closes off a rubber gasket to turn the taps off. It had a bunch of green coppery corrosion on the rubber gasket, which was pretty beat up anyway, so I replaced it. The hardest part was turning off the house water so I could get at the thing--we don't have angle taps on any of the appliances for some reason.
Cost was about $1.29. Problem solved.