do you have to replace rack and pinion pump and pressure line if you loose power

Do you have a full set of metric box wrenches (long & short) , crows foot wrenches , line wrenches, jack and jack stands , air compressor 1/2 &3/8 drive air tools drain pan, alignment rack screwdrivers channel locks, torx (internal& external) and a pressure guage with adapters and any other random item I'm missing ? then yes you CAN do it yourself! From your description you need a steering rack fluid spurting out of the reservoir is only the symptom , not the CAUSE. Good luck!!

if you never done this before i would let a repair shop do it

If there is no power and you are losing pressure from the pump...you need another pump.