Easy fix. Buy a roll of butyl putty tape and a tube of Dicor for vertical surfaces. Go inside, take the screw and inside clamp ring off. With someone outside holding, from the inside gently push the window out. Clean everything removing the old caulk. Apply a bead of new putty tape, replace the window, reinstall the inside clamp ring. After a couple of warm days take a plastic scraper and clean up the putty that has squeezed out. Apply a bead of Dicor to the top and sides, leaving the bottom with only putty tape.