Wood basement wall below grade - what to do?
There is no magic bullet to solve this type of problem. Wood framed walls below grade are a no-no for a multitude of reasons. Water rots the wood and rusts the fasteners. Even pressure treated lumber rots, only less quickly. Termites travel underground and eat the wood. Mold and mildew eat the wood and cause odors. Damp wood looses its shape and its ability to carry vertical or horizontal loads. It's a never ending maintenance problem.
You can spend a lot of money trying to damp-proof the outside of the wall, but that ground water is there 24/7/52 and only needs the tiniest hole to penetrate. Once inside it's guaranteed to do damage before you get around to re-repairing it.
You probably don't want to hear this, but your best solution is to excavate outside and replace the below-grade portion of the wall with damp-proofed masonry. Based on your sketch, you may need to remove-and-replace part of the porch in the process.