I tried some of that liquid plastic coating on the weathered handle of my favorite hand cultivator and it has worked out great. The handle was really cracked and split, but the stuff filled it in and it has held up beautifully for about 3 years now.
http://www.plastidip.com/home_...
I dipped mine, but you can apply it with a paint brush, too. One word of warning: once you've opened the can, you need to use it all, because it just won't reseal and the remainder will dry out.