best way to paint over Drylock basement.

I want to paint my basement walls, which currently have several coats of old pealing Drylock.

I would like any recommendations on the proper way to prep the walls and paint. Do I need to scrape off the existing paint? Prep with muriatic acid or bleach? What kind of paint do you recommend?

I do not plan to finish the basement. I just want it to look clean, bright and dry.

A few issues:

1. At one time, the basement had water problems, and there is efflorescence on the walls. But the previous owner installed an interior french drain system and sump about 3 years ago, and I just finished extending all the downspouts and sloping the exterior grade around the outside foundation. And we run a dehumidifier in the summer. So the basement is now dry and no mold.

1. There are also some horizontal cracks in the foundation. I consulted a structural engineer when we first bought the house,. He said they are due to frost heave and are common in are area. Because they are not too big I did not need to worry, unless they grow. I've been monitoring and they are not growing.

I'm hoping I can just fill the cracks with caulking or hydro cement before painting.