Add your label to your form. Add a timer control to your form. Set the Interval of it to 1000. Keep the Enabled Property set to True
add this code (double clikc on the timer and you only have to enter the middle line:
Code:
Private Sub Timer1_Timer()
Label1.Caption = Now
End Sub
You can play around with the FORMAT command if you don't like what that label caption looks like/displays.

EDIT: Good point, dile.....you posted as I was typing.