Record faucet leakage at last (4)
I believe the answer is:
tape
'record' is the definition.
(synonyms)
'faucet leakage at last' is the wordplay.
'faucet' becomes 'tap' (tap is a kind of faucet).
'at last' says to take the final letters.
The final letter of 'leakage' is 'e'.
'tap'+'e'='TAPE'
(Other definitions for tape that I've seen before include "Race winning line; record" , "The finish line" , "Measure" , "Music cassette" , "Adhesive --; red --" .)