Synthetic Stucco - Stucco is very durable. The newer types have a long lifespan and are resistant to the elements. But small cracks do occasionally appear. There is also the problem of mechanical damage from something hitting the surface. Use acrylic latex paint to cover small cracks. You can also fill them with latex caulking compound and then paint with acrylic latex paint. For larger cracks, chisel around the edges of the crack and brush away loose material. Paint the edges with concrete bonding agent and allow to cure. Then use a trowel to fill the crack with stucco patching compound.

Make sure the color and texture are similar to the stucco around it. Matching the texture and color is the hardest part of stucco repair. Make a few trial patches on scrap wood before applying to your house. Keep the patch damp for 4 days to allow it to cure.

To patch small holes, simply pack the hole with stucco patching compound.
With a larger hole, remove any loose material with a cold chisel and blow away the debris. Dampen the area where the patch will be applied. Partially fill the hole with patching compound. Don't fill the hole completely because you'll need to apply two more layers after the first one has cured.

Allow the first patch to cure for a couple of days, then apply the next layer. Repeat for the final layer. Keep the surface damp for 4 days. Then apply acrylic latex paint.