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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