Hi brandiebar79,
Have a look to see if the o-ring or washer has split or perished this may need replacing.
If thats not it try plumbers tape around the the thread where the faucet joins the pipe.
1. First remove any remains of old plumbers tape.
2. Wrap the tape it around the thread several times in the direction of the thread.
3. Keep the tension firm on the tread.
Below is a site that goes into more details that can help you. The site also mentions using Pipe Dope to get a tighter connection.
http://www.acmehowto.com/howto/homemaintenance/plumbing/general/teflon.php
Hope this works out for you,
regards from Noelene a diy Mum from Sydney Downunder.