If the boot has any fluid in it at all then your power steering rack is leaking. The boot is there to protect the ball joint of the tie rod end and the steering rack shaft from debris. Your rack is bad and should be replaced because there should never be fluid in that area. There are repair kits that you can buy to replace seals and what not but I'm not sure where you get them or how difficult they are to install. I would suggest having the steering rack changed. I recently did this myself and the job is pretty straight-forward. If you are going to do it yourself I have written up the procedure and can forward it to you. A rebuilt rack with a lifetime warranty ran me $285.