Few things annoy me more than bolt hole threads that strip out. I don't think any of you would disagree with me that it always happens at precisely the wrong time. Who wants to spend an hour looking for that tap and die set and then digging up a fatter bolt?
Well, the good news is that there's a cheap DIY fix! I wouldn't recommend doing this on your engine block, but it'll work like a champ in a number of light duty situations. It doesn't require any fancy tools either. The first thing to do is back out the bolt. This should be easy; it's already stripped, right?
Now fill the bolt hole with a compound, either Liquid Steel
or J.B. Weld
. You've got to love the folks that invented those products! Next, coat the bolt liberally with liquid soap. Crank the bolt back into the hole and wipe up the excess that squeezes out around the bolt head.
When the compound is dried, you're set! You can now screw or unscrew at will.