Step 1: Use the condition for equal roots
For a quadratic equation \( ax^2 + bx + c = 0 \), the roots are real and equal if:
\[
D = b^2 - 4ac = 0
\]
Here, \( a = p \), \( b = -2 \), and \( c = 3 \).
Step 2: Solve for \( p \)
\[
(-2)^2 - 4(p)(3) = 0
\]
\[
4 - 12p = 0
\]
\[
12p = 4
\]
\[
p = \frac{1}{3}
\]
Thus, the correct answer is \( \frac{1}{3} \).