Water spewing out of faucet handle

Last night I lifted the handle of my kitchen faucet and water spewed out. It's going all over the counter and onto the floor. We have to use the bathroom sink. Can anybody tell me how to fix this?

So, does anybody know how I can fix this problem?

What you have is a Moen Chateau Kitchen faucet.
The cover pops off by hand, then you can access the screw that holds the handle to the cartridge.

This is close to what you have. I can't find the exact faucet on the Moen site anymore. What you have is old.

http://www.moen.com/shared/pdf/87581pt.pdf

You may have a broken part under the cap.

The cartridge or an "O" ring on the spout has failed. Those are the only two places water can leak out of the faucet at the top.

Thank you, HJ. I see this "O" ring on the diagram Terry sent me (thanks Terry!), but where is the cartridge located? And I can't get that top part that's labeled "Spout Retainer Kit" (above the ring) to come off. I was going to turn it with a vise grips, but I don't want to break anything.

The leaking water may have caused the thread to seize, but normally it comes off very easily, assuming you are rotating it in the proper direction. The cartridge is inside the faucet, and since it is probably the brass version, it may be difficult to extract without the proper tools. I say "tools", not "tool", because it might require more than one of the four or five different tools used to remove it.