Sealing your cinder block foundation from the inside with drylok is probably going to be ineffective at best and at worse, seal the moisture inside your block wall creating faster degradation at worst. Unless the crack is very wide and has ideal bonding preparation, you won't be able to get enough epoxy in it to do any good and the hydrostatic water involved will still be able to cause it to leak. In order to fix the problem, you need to fix the water from getting outside the wall to start with which means looking at your concrete patio first. Is it sloped away from your home or is it funneling water up next to your foundation. It should be sloped away from your home and I'm guessing it isn't funneling the water away. Until you fix that problem, you can only mask the problem from the inside until you can't anymore.
After solving the water issue, buckled cinder block walls can be fixed but that means some invasive digging on the outside as well as drilling holes through the cinderblock walls to run anchors through to the outside to pull things plumb. Again, since you are adding more holes to the walls, you will want to solve your water issue first.