I started reading the various posts and realized that all I need is the sump bump. AM I CORRECT?

One needs a lot more information to determine that.

The first question is where are the drains--inside or outside--and where do they lead or what are they connected to?

"Taping water resistant material" to the inside(?) walls won't do anything to waterproof the walls. Such a setup is used to channel water to inside drains. The problem is that it does nothing to stop the water from getting inside in the first place; and that water may be damaging your walls, even undermining the walls themselves.

However, if all you have are occasionally damp walls, you may need no more than a dehumidifier, especially if the basement is unfinished.

Pictures always help.