You need to buy a new cap. There is no need to bleed or refill coolant, as this is the top of the system. This is just a cap, not to be confused with the radiator cap. You need to buy a new cap at the store (cap where the thermostat goes) and then clean up the sealing surface as it may be rusty. You could install a new 195F thermostat while you are there.
Replace cap when engine is cool.
Make sure the cap is on properly. There is a first "latch", then a final one. The first latch loosen the cap, but doesn't allow it to fly off if someone turned it while under pressure.
[This message has been edited by jaskispyder (edited 08-06-2014).]