They eventually need to be replaced. If it's just paint coming of and rust under it, grind the rust off and paint it, or take it in to be powder coated. But that will probably cost as much as a whole new blade anyway.
Like Ridin' stated, if it's just "flaking paint" and a little "surface rust"..... sand it down good, wipe it down with rubbing alcohol and repaint it with a "quality rust prohibiting" type paint (like Rustoleum).
You can wax it if you'd like, but I wouldn't..... but would rather spray it with lubrication, like a WD40, Fluid Film, or your favorite flavor of lube (Not KY Jelly)..... this will help prevent it from rusting and will also keep the snow from sticking to it when plowing! :fing02: Or replace it if you have endless coin or bank! But eventually, they all will do it..... usually after about 2-3 years of "normal" use.
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