Normally I'd be 100% in favour of repairing and restoring an old tool, but in this case I think I'd make an exception.
I used to have a very similar B&D, but it too lived unused in a tool box for many years because it was - frankly - rubbish. It would strain and then stop with any screw that needed reasonable force to set it fully, and then the bit would cam out and damage the screw as I tried to apply the last few turns by hand.
If you have a job that uses more than a few screws, do yourself a big favour and treat yourself to a proper impact driver. It'll absolutely transform your idea about how hard it is to take screws in and out; it'll be way faster and more powerful than a little B&D, and greatly reduces cam-out during those last few turns when the torque really increases.
It does take a little time to get used to the power, but you can control it with the variable speed trigger. Practice for a while and you'll have a superbly versatile tool that makes you wonder why you put up with a toy screwdriver for so long.
Mine is a DeWalt DCF887, other cordless tools are available.