Led and lead seem to cause nearly as many problems as lay and lie.
Lead (as a present tense verb) can mean to guide or to show the way. As a noun, it can also mean an element that used to be in gasoline and still weighs down some people’s butts.
The problem arises when writers mean led, the past tense of lead (which rhymes with plead), but instead write lead, which sounds the same as led. Think of it this way:
No one with lead in his butt has ever led the way to victory.