Clean out debris from small holes, less than 6 inches across, with a stiff brush. Dig out the area using an awl or nailset tool to clean out holes that are too small for the stiff brush.
Brush dust and debris from the opening with a paintbrush. Blow any remaining debris away.
Apply stucco patching compound to the hole with a putty knife. Pack the compound tightly into the hole almost to the surface. Allow the compound to set until stiff.
Mist the dried compound with water to dampen it before applying the next layer.
Spread additional patching compound over the dampened surface with a putty knife, building it up to the surface. Use the putty knife to swirl the compound to match the surrounding surface. Allow the compound to dry thoroughly. For deeper holes, build up the patching compound with additional layers, misting with water between layers.
Paint the patched surface with latex acrylic paint to match the surrounding surface.
Blow dust and debris from hairline cracks less than 1/8 inch wide.
Place the applicator tip of a tube of latex caulking compound into these small surface cracks. Squeeze the caulk into the crack.
Wipe away excess caulk with a putty knife.
Allow the caulk to dry thoroughly for four to six hours. Apply additional caulk to even out the surface, if needed. Allow the caulk to dry completely before painting.
Paint the surface with latex acrylic paint.