Seal cracks in basement wall

My house was built in 1952. It has a basement about 60% underground with some high windows. There are some cracks in one of the walls and in wet winters, water seeps through the cracks. One crack is 1/16 inch wide and runs from the window to the floor. Other cracks may be several feet long, running mostly horizontal, but are thin. Water seeps through most of them (as evidenced by the stains). I have noticed water on the floor 2 of the 4 winters I have owned the house. I live in Portland, OR where we get about 32 inches of rain from October - June. The temperature rarely drops much below freezing but every once in a while we have a cold spell with temperatures as low as 10 degrees for a few days.
Can this wall be effectively sealed? What should I use to seal it?
TIA, Mike
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It should be cleaned , loose material removed, acid washed and sealed with mortar, from both outside and inside. 1/16" isnt going to give you the working ability to get the mortar in deep, using a chisel to make the opening wider will help you to get depth on the repair.
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Mike wrote:

You can effectively seal it, but only from the outside. On the inside, the best you can do is to collect the water and pump it out.
The best thing that you can do is to make sure the ground on all sides of your home is graded away from your home at least 15 feet. Also gutters must be routed away from your home at least as far.
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Joseph E. Meehan

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With cracks in concrete foundations I have had good results when I chiseled out so I got the mortar in 3+ inches, sure outside is best, but this is concrete, not block. Try it, if you get it in deep enough, and its clean it will bond and seal. Brick or block or stone, take major work. A few cracks are not a big deal. Also address drainage
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There are many people in the business of injecting urethane into cracks in concrete walls. The few cases I have seen it done worked quite well.
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Mike wrote:

http://www.ugl.com/DRYLOKframes02.html
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Best stuff I have found is at: http://www.polygem.com/repair/index.php
I have used mortar, hydraulic cement, etc. in the past, but this is what solved *my* problems. Other's mileage may vary.
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