My wife and I just bought our first home four months ago and despite
the fact that it's a brand new home, we're getting a real crash-course
in home repair. The house is withstanding a great deal of the abuse
inflicted on it by my 2- and 8-year-old, but just recently, my son took
a small chunk out of the corner of one of our walls with one of his
toys.

Better to show than tell:

http://home.comcast.net/~inkswamp1/oops.jpg

As you can see from the pic, he knocked the paint and material
completely off the corner in question, exposing the steel surface
underneath. Now, if this were just a spot of chipped paint, it would be
a no-brainer, but what should a newbie home owner like me do here? I
assume I need to put something in there first to fill it in before
repainting, but I have no clue as to what that would be.

Any pointer or web sites with tutorials would be greatly appreciated.
Thanks.