I used my Benchmade to field dress, skin, and quarter a deer this morning. It worked great but now there is a problem with it. The blade was really tight. I rinsed it off well after using it but must have gotten some blood  in the hinge. After a good soak in hot water and blowing it out with compressed air it was still tight. So I took it apart and did a very thorough cleaning and re-assembled it. With the hinge screw tightened down snug it was still too tight to flip open. With the hinge screw backed off just a tad shy of snug it works perfectly but I am reluctant to carry it with the hinge screw not snugged down.

Should I put a dab of blue Locktite on the screw
and then adjust it to the right tension? Or is there something I am missing?

This is a liner lock model with the titanium liners by Elishewitz.

There is no nut. The adjustment screw goes into an aluminum pivot with a blind hole. The pivot has a flat side so that it will not turn in the liners and the blade pivots on this aluminum piece.

Troy is right, the Benchmade will not fail with the screw backed off a bit. Thats what I had to do with my Pinnacle, works just fine and Ive had it that way for almost 3 years, and I beat the hell out of that knife.