The return hose is leaking at the crimp connection. Since it is low pressure can I cut off the crimp and use a new piece of hose and clamp?

 

Yes. But you need to use "Power Steering Return Hose" and 2 clamps. The trick is to find the hose with the same inside-diameter as the steel line outside-diameter. You can also use transmission cooler hose or oil cooler hose. Whichever hose should be rated for at least 250-300 psi.

You should cut back to the steel tube, (i.e. remove the crimp) and insert the rubber hose at least 3 inches over the steel tube. On the other end the new hose should be clamped into the P/S pump.