How do I change the drill bits and then tighten so the bits stay in the drill?

On this particular tool, you can't really tighten the bit in the anvil like a bit in a drill chuck. The bit is free floating but held in place by a small steel ball. The steel ball is held in place by the sleeve that slides up and down to release the ball so the bits can be changed. The sleeve is held down by a spring. Bits falling out can be caused by: Using bits without the groove in the bottom of them for the ball to catch in, dirt in the bottom of the anvil so the bit can't seat properly, the ball is missing or stuck, the spring is broke or binding, or the sleeve is bent or too dirty to slide up and down freely. Use compressed air to clean the anvil well and WD40 to clean and lube it further. If bits still fall out you'll have to take it apart and see if the ball, spring or sleeve need to be replaced.

The drill uses a cordless chuck (part bits go into) you will need to hold the outside ring of the chuck and spin it to loosen the jaws on the bit. Then spin the chuck the opposite way to tighten

Katie,
Refer to the picture below. Loosen the locknuts (the one on the right side of the drill is shown, there is another on the left side). Use the lever to move the motor toward you, thereby loosening the drive belt(s). Open the top cover to expose the belt(s) and sheaves (most people incorrectly call them pulleys). You might have one belt and two sheaves, or you have two belts and three sheaves. The drill will go fastest when the belt is on the biggest motor sheave and the smallest sheave on the drill spindle. Of course the opposite sizes apply for the slowest speeds. Make sure the belt uses a pair of sheaves that are at the same height as each other (the belt has to stay in one plane). Now tighten the belt(s) by pushing the lever pretty hard away from you, and while holding it with your right hand tighten the left side locknut with your left hand. Now tighten the right locknut. Close the cover. ----- OK, so now you know how to CHANGE speeds, what about drilling glass? This can be tricky. You must use a pretty slow speed (maybe the slowest, depending on the size of hole you are drilling. And you must keep the spot you are drilling flooded with water to keep the glass cool. And you must apply pretty gentle pressure. And the use of a drill bit intended for drilling glass helps a lot. And don't try the first hole in something expensive! Practice on something disposable first. Take your time. AND WEAR SAFETY GLASSES!
Good luck!

If you asking about the bit usually trap two hands around the head of drill where the bit goes in and twist hands in opposite directions to loosen, you will see a centre grasp of two or three which is where you drop the drill bit into or remove from. Do either of these add or remove then tighten the same way you removed. Make sure the drill bit is centre and straight and well seated within the grasps when tightening back up.

This drill uses a keyless chuck. which means you have to hold onto the barrel by the end of the drill chuck. Then you need to put the drill in reverse to open the chuck to put a bit in. Insert a bit and then put the drill back into forward and hold chuck to tighten.

I have the same drill and love it !! This series of Craftsman Drills are the first of the keyless chuck. To tighten or loosen the bit, simply pull back on the black ring tightly and hold it and simultaneously pull trigger to run drill foreward (to tighten bit). Reverse (to loosen bit). The chuck will make a loud clicking sound!! This is normal !

Round bits are not compatible with the Ryobi impact drivers. You need the hex shank "quick connect" bits and accessories. There is an adapter available. it is basically a regular style of keyless drill chuck with the quick connect hex shank that should fit right in to your Impact.

I would replace the chuck or purchase a 1/16" quick change drill bit.

there is a rippled edge close to the very tip of the drill and there is a key supplied with the drill with the corresponding ripples place key into the hole near tip of drill so ripples meet each other and turn key in an anticlockwise direction to loosen put in new drill bit re tighten in clockwise direction hope this helps if not please ask for more info glenn

What size bit are you using if it is real small it may be below the min sixe require for that chuck .If it is say 1/8 or larger it may be time for a new chuck .They are easy to replace open the chuck as far as you can there is a screw inside them most of them are left hand threads just back it out and tap the chuck loose with a hammer .Make sure you know the threads of your chuck when you buy the new one most are 1/2-20 but some can be 3/8-24 tpi