Joint compound (also known as “drywall mud,” “Sheetrock mud ... and that fast dry time (usually about 30 minutes) means you can sand and paint over the filled flaws almost right away.
Once the compound dries (allow 24 hours), sand the layer of compound ... For larger holes, you’ll need joint compound and possibly a drywall patch to ensure the repair is sturdy and blends ...
To replace a section of drywall, you’ll need basic tools like a utility knife, a drywall saw, a putty knife, a screwdriver or ...