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I noticed at my last track day that my master is leaking. Its coming from the bleeder, but coming through the threads. I replaced lines and fluid before this, and when I bled from the master there was a bunch of dirt all over the place from a previous crash, so I cleaned that all out. This is the first time I've experienced this leaking. It was never enough to lose pressure (though it did fade more than normal). So ... is there a way to fix this, or is it time for a new master.
Have you tried teflon tape?
If it's leaking from the bleeder, teflon tape is a temp bandaid at best. Pull the bleeder, make sure the tip is clean and not deformed, and make sure the the bottom of the bleed port is in good shape, no dents/etc. The bleeder seals by pressing the tip into the recess, the threads have no part in the seal. In other words, if fluid is getting to the threads, you're already screwed. You may just need a new bleed screw.
To add to Josh's post, teflon tape would get messed up anyway by the amount of time you need to turn the bleeder in order to bleed the MC. Teflon tape is designed for a single tightening only, not repeated open/close.