Garden hoses can be cheap or expensive depending on their quality. If you have one of the more expensive ones, you might want to try patching the damaged area instead of buying a new hose. This will save you a little money and doesn't take a lot of time to do. Small holes can even be fixed with simple items that most have in the home.
Clean off the area of hose that is damaged. Remove all dirt and debris so that the tape will stick properly.
Wrap the damaged area of the hose with duct tape to seal the hole. Attach the tape several inches away from the hole and wrap it around the hose several times to secure the starting point.
Set the tape at a slight angle after securing it on one end and wrap the tape around the hose until you clear the damaged area by a couple inches. Be sure to overlap the tape as you go, so there are no gaps in the tape's seal.
Wrap the tape several times around the garden hose on the other end of the hole or split to secure it and keep it from coming loose.
Apply a raft or air mattress patch if the hole is tiny. This will work just as well as the tape. Cut the patch material so that it is at least 1 inch wide on on either side of the hole. Apply the glue that comes with the kit and press the material in place until the adhesive adheres to the garden hose. The adhesive on these patches is just as strong as duct tape.
Allow the tape or patch to set up for a day before turning the water back on.