If the lettering is engraved (below the surface) as it should be, clean the knob, THOROUGHLY fill in the letters with white enamel. Small brush works well, doesn't have to be precicely within the letters. After the paint starts to set, wipe the excess off the raised part with a Q-Tip SLIGHTLY moistened with thinner. Too wet, & it all comes off.
You might have to experiment a bit to get things just right, but if you screw up, it's easy to wash the knob with thinner & try again. The same works well on all knobs, even gear shifts. I have used this method on gun engraving for years. Testor's model paint works well & comes in all colors.
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