Stripped, as in the outside? So you can't get your wrench on it without it slipping?
If so, how rounded off is it? Have you tried a similarly sized (but smaller) standard wrench/socket (with a hammer if need be)? Have you tapped it lightly with a hammer? You might need to grind some faces onto the plug (or make the rounded ones more pronounced), and take a good wrench to it. Of course, you'll need a new plug.
Yes. Use a Dremel to grind 2 flats so that you get an open end wrench on it. If you can get a pipe wrench in there that would be another option. Who the hell torqued that thing? For future reference, a 6 point socket won't strip a stubborn bolt like a 12 point does.
Try running the engine for a little while too. If you changed the oil last time when the engine was warm then the bolt and engine case have shrunk and will tighten the threads. It might be easier to get the bolt off if you warm up the engine a little...it's worked for me a couple times.
If temperature is the issue then you should get it as hot as you had it the last time you changed it. If it was cold the last time you changed it then temperature is not the issue. Metal expands with temperature so the threads go from pushing to pulling or vice versa. In order to make it easiest you want to have it at the same temp that you tightened the bolt down on last. It's not THAT critical though. You will still probably have to use one of the other methods suggested. Just trying to make it a little easier to back that thing out.
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