If that tank is rusted "through" in one spot then there are other spots that are nearly rusted though. Trying weld on that would likely open up more rust fractures, even if it does not, it is only a matter of time before more pop up.
Best bet is to go ahead and replace the pressure tank.
If you were hell bent to try and weld it or something, one trick I have used in the past in such places is to run in some weldable metal screws (not zinc plated, stainless steel or hardened ) into the crack, that allows you to have a little more material to work with and lets you get a little ways away from the rusted crack for welding. On that tank 3 screws with a good sized thick head set side to side into the crack would allow one toweld all three screw heads together and then weld to the tank 1/8 th or so away from the crack.
In the case of a single pin hole I would say drill it out to a 1/4 in hole and tap and
thread it and put a bolt with a rubber grommet in, but with that crack there is no way.