Shut off the water supply to the faucet by turning the two water supply valves inside the sink cabinet clockwise.
Twist the handle clockwise on the faucet knob at the front base of the faucet until all water empties from it.
Loosen the set screw on the underside of the handle where it attaches to the faucet base using an Allen wrench.
Pull the handle straight off the valve assembly.
Grip the washer at the top with needlenose pliers and pull it out of the valve socket. Remove all washers and the valve from the socket, and arrange them on the counter in the order each is removed.
Match each of the old washers with a new washer of the same thickness and diameter.
Pack the new washers into the valve socket in reverse order from the removal of the old washers. Press the edges of each new washer firmly into position with the tip of the needlenose pliers.
Align the handle with the valve stem on the faucet and push the handle into postion. Tighten the set screw under the handle with the Allen wrench.
Restore the water supply by turning the two water supply valves counterclockwise below the Franke faucet, beneath the kitchen sink.