Hose bib had been leaking. I replaced it and now it is leaking from the connection between the pipe and the hose bib. I did put some of of that stuff that looks like tape on the end. What else can I do to stop this annoying leak?!
Take the faucet off, clean the threads of the pipe tape, install 3 wraps of new tape in the direction of the threads, then add a coating of RTV silicone, re-install the faucet and wait till the next day to turn the water on to the faucet. I have used this fix on many hard to stop thread leaks on both hot and cold water lines.