Leaking kenmore 70 series HELP!?

I have a Kenmore 70 series washing machine that was a hand me down, and it only leaks sometimes. Ususally on small loads. And I have to keep the water level knob at the lowest setting, so it is not even getting all the soap out of the clothes! But if I change the water level knob even up one knotch it leaks all over the floor.(some times it leaks regardless of the setting) It appears that it must be somewhere under neath that it is leaking. Will resetting the water level somehow help? If so, how do I go about this? Or could it be something else? Please help!! I can't afford a new machine!