If you're talking about replacing the REAR sight blade, here's the factory method:
For tools, you'll need a GOOD, FITTED gunsmith's screwdriver bit. You can buy the right bit from Brownell's.
The right bit is #210-3. Stock number 080-210-330.
DO NOT try to use a S&W rear sight screwdriver since it's not strong enough, or any type of standard screwdriver.
You'll need a staking punch. This can be a center punch with a rounded-off point, or even a nail, and a bench block to use as an anvil. You can simply put some magazine cover paper or shim stock on a vise anvil.
You'll need either a S&W rear sight spanner "wrench" or a pair of jeweler's tweezers.
Buy a rear sight blade kit from Brownell's or S&W.
Sight blades are sold for different barrel lengths of the gun.
You MUST buy the correct blade kit, since these come in different heights for different guns.
Longer barrels take a different height then the same model with a short barrel.
There are also plain black or white outline blades.
The sight kits come complete with the blade, a new windage screw, and a new windage screw nut.
Here's the actual process of changing out the rear sight blade:
Turn the windage screw COUNTERCLOCKWISE until it stops turning.
Get the screwdriver well seated in the windage screw slot, then forcibly turn it farther until it shears.
The S&W sight windage screw has a weakened area on the shaft to allow the screw to shear.
(NOTE: As a alternative method, use a small drill to drill off the flared windage screw staking in the windage nut.)
Hold the sight over a table and gently bump it until the windage screw head moves out of the sight base just enough that it can be pulled the rest of the way out.
BE CAREFUL, under the windage screw head is a TINY spring and plunger, don't loose them.
Push the windage screw and blade over to the side until you can grip the shaft of the screw and unscrew it from the blade.
Use solvent to degrease and clean the sight base. Dry, then apply a good lube to all parts.
Screw the new windage screw into the new blade.
Slip the tiny windage screw spring and plunger into place in the base, then insert the new windage screw and blade into the base, making sure the spring and plunger are in the right position.
Press the windage screw into the base until it's seated in the base, with the spring and plunger under it.
Hold everything in place until the nut is installed.
Press and hold the windage screw firmly into the base.
Screw the tiny windage screw nut onto the windage screw shaft until it snugs up against the sight base.
BACK IT OFF 1/4 of a turn.
(Use a S&W spanner tool or tweezers to snug the nut down against the base, then back it off).
Place the windage screw head on a brass bench block, then use a punch to gently flair the hollow end of the windage screw shaft down into the nut.
Be careful to keep the nut from turning while riveting the windage screw.
(For a punch use a center punch with the point rounded off, or even a nail with a re-shaped and rounded point)
All that's needed is a good flair on the end of the screw shaft to lock the nut in place.
This doesn't take a lot of hammering.
Test the windage screw to insure the sight has a full range of windage adjustment, and doesn't bind.