As most replies here say: drainage, drainage, drainage. Ripping up the concrete outside and fixing the grade is probably the best solution.
Nothing you can put on the inside will seal it, BUT you can add drainage on the inside by breaking up the floor next to the wall and putting in an interior drainage system.
Another option is to drill a bunch of holes into the soil on the outside of the wall and inject drilling mud (bentonite) into the holes. This jams up the leaks, but it's not permanent and doesn't stop the water completely. Maybe this is what was done in the past that nobody can remember what it's called? There are not many people doing it anymore.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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