While black fiberglass tape can be used to repair minor leaks in pipes, it is not typically recommended for fixing leaky faucets. For pipes, especially plastic ones, fiberglass tape can create a temporary seal. However, for faucets, plumber's tape (Teflon tape) is more suitable as it is designed to handle the threads and tight seals required in faucet connections. Always remember that for long-term solutions or significant leaks, professional repair or replacement is advisable.