[MRM]

Drylock is the product whose name you were searching for. For sure seal the crack and paint the area with drylock. The problem is that if there is a crack in the wall the water will always get into the wall unless the crack is sealed on the outside of the wall. That means digging down to get at it. One summer a few years ago I did that at my mother's house. And other than spending a couple of days digging down to that level, filling the crack from the outside and sealing the inside with Drylock worked fine.

But the right way to do it is to call a profesional and have the foundation drain tiled and damp proofed on the outside.