That's the OEM version. It has to come out from the inside. The tank gets drained, the nut removed, and also usually have a hose clamp around the bladder's drain nipple to seal the valve to the bladder, which means pulling the bladder partway out of the wing to get at the clamp. Old bladders resent that and can crack and start other leaks. Big job for a simple drain valve, which is why some opt for the STC'd versions.
It will likely continue to give trouble. Water that gets into the tank rusts the guts in it which roughens the sealing surfaces, and the O-ring deteriorates with age and exposure to fuel. The STC'd version is of stainless, with only the O-ring deteriorating.
Duct tape will instantly turn gooey when fuel hits it. It's really messy. Won't work. A cap with a rubber seal to fit against the end of the threaded spud would work, but it would have to be custom-made, with a really short and shallow section of threads in it. As a former machine-shop guy, I can tell you that it will be cheaper to replace the valves than to get caps made.
Old airplanes are so much fun...