"Should I just buy a new camcorder?"に関する回答No you shouldn't buy a new camcorder you should just fix the problem.
"What if the screws are stripped?"に関する回答One way you can fix the problem if the screws are stripped, is to use a very fine screwdriver, and while trying to unscrew the screw apply enough pressure so that while you are taking it out you do so not to strip it.
"Not having the proper tools to fix the button"に関する回答You can use household items like tweezers and a knife with a fine tip to try and unscrew the screws. Another household item that could be used is needle nose pliers and a screwdriver to pry open the screen.