Not the screw itself, but the hole the screw goes into. It is now useless.

What should I do? I've considered drilling another hole next to it, or securing the screw in the hole with superglue.
Its happend to me,here is the best trick in the world. Take out the screw and put a toothpick in the hole,cut of the tooth pick where the hole ends,now put the screw on/in the toothpick/hole and start screwing in,the toothpick will shred up and pack it, it works everytime i swear
Gettin rid of me RR3 =(
i ender up taking mine to a gitar shop...they patched it up for me
I got a piece of dowel and made it the same size as the hole, glued it in there, then screwed it back in when it dried, it's solid as a rock now.