Lowe's has this commercial that says "Lowe's Knows!"
This is proof that Lowe's does NOT know!
You never, ever, want to paint stucco.....with anything but more stucco.
Paint WILL entrap moisture and water and WILL eventually rot your framing.
I've seen it too many times for them to deny it. I just finished restoring 24 columns (c. 1813) that someone had painted. The handrails that went into the columns were completed rotted, the deck flooring was rotted out....and a whole slew of other problems, all because someone painted the columns.
I have restored stucco all over the country. Problems caused by people painting their stucco.
Within this artice about stucco, in Lowes web site, it says to patch cracks with caulking...Good idea if you dont mind the hellish look when you are through....
Patch stucco with stucco.....
Once the cracks are patched you then buy some "fog coat" material. One place to buy this is from "LaHabra Products" in Anaheim Cal. (tell them Brian Ewing sent you LOL).
This fog coat material is Portland Cement, Lime and pigmentation (stucco without the sand). You just mix it with water, strain it through a pantyhose into a Hudson type garden sprayer and you can hide up the patches or change the color of the house (as long as the new color is not too far from the original color)
Don't listen to these "New Age" do it yourselfers! You'll just get into more trouble than it's worth!