I noticed a little excessive water build in my boat on my last outing so i naturally looked everything over after noticing my buddy got my oldschool straight plastic boat plug stuck i also noticed that the housing was cracked and was a little warped obviously its not water tight so now im faced with getting this plug out and replacing the housing i havent owned a boat for very long and i have no idea what im doing can anyone help me out?

What do you mean by the housing? The plastic drain plug most likely has a brass replacement

You may not have to replace the part in the boat. If the drain plug is bad get a new one.  Also check and see if it has an o-ring on it.  If the o-ring is missing or cracked that may be your issue right there or if he cross threaded it a new one with an o-ring should fix the problem.  But without seeing the actual picture and damage it's hard to really give you an exact answer.

i cant get the plug out when i grip it with pliers it just bends the plastics 

Can you post a pic of what you're talking about?