Hot/Cold Water Faucet Dripping
There should be a mounting nut on the faucet stem which holds the faucet from below (under the counter). You will need to shut off water heater AND the water to the heater, and disconnect the supply pipes. Take the mounting nut off and pull the faucet out. When you look inside you will find something similar to the armature for pop-up drain plugs (I think). Basically you should be able to see how everything goes in and how to take it apart once the faucet is has been taken off the counter. There should be a rubber ring that can be replaced. If you can't figure it out once the faucet is off, take a picture of the inner workings and post it so that someone here will be able to help.