Mitsubishi Repair: LEAKING, weep hole, waterpump

Question
My 1994 eclipse started overheating then i noticed water pouring out from i guess the waterpump so i changed the pump when i filled it back up with water it started leaking from a little hole on the bottom of the waterpump i guess its supposed to be some sort of plug i don't understand whats wrong it doesn't pour out like before i changed the waterpump but it still leaks.

Answer
Robert,
That hole you see at the bottom of the pump is called the weep hole.  The weep hole is intentionally put there as an early indicator that there is a problem with the pump.  Many times when installing a new water pump, there may be a little water leaking for the first few hours of use as the seals set.

But if your coolant continues to leak out, that indicates that perhaps the pump you installed was defective with bad bearings and/or cracked seals.  Don't ignore the leak, and don't attempt to "repair" or plug a weep hole. You'll need to remove the leaking pump and install a new pump.  If you do get another pump, be sure to ask whether it's new or rebuilt.  If you plan on keeping the car for a while, I'd recommend getting a new pump as opposed to a rebuilt one.  The new ones have better warranties as well.
Good luck!