There's a grip/stock restorer/woodworker extraordinaire who goes by DWFAN, if I recall correctly, who is a member of the S&W Forum and I'd certainly take any of his advice over mine. Hopefully he'll weigh in. Anyways, here's an idea for you.
Here's a technique I've used about 3 times and I've heard other member cite this technique too (click on below image to enlarge it - I don't think you'll see the crack):
1. You'll have to commit to a refinish.
2. Strip the old finish. Either soak the stocks in acetone for a few hour and scrub with a soft toothbrush (gently sand afterward) or remove the old finish with a very gently abrasive, i.e. finer grit sandpaper. Save the sawdust.
3. Find a very thin superglue. On two of the three grip cracks I refinished I used an Exacto knife blade placed gently down in the crack to barely open up the crack just a fraction of a millimeter to facilitate the superglue going deeper into the crack. Use the lease amount of superglue necessary to just barely overfill the crack.
4. Quickly, while the superglue is still wet, dust some of the saved sawdust over the moist superglue and let it sit about 10 seconds.
5. Using about 240 - 300 grip sandpaper, while the superglue with the overlying sawdust is tacky, to sand over the crack until it is smooth and you see the superglue disappear or nearly disappear (it might give the appearance of wood grain).
6. Let it dry for a few hours.
7. Refinish.
For a through and through crack you'll still be able to see the crack on the backside of the stock but not on the finished side.
Here's an example that had a crack forward of the S&W emblem:
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