I use ntpdate to keep my clock up to date, its just a cron job that runs once a day. We had a power outage, and for some strange reason the clock is behind 1 hour now, even though the power outage has nothing to do with the clock as the job would not of even ran in that time frame.

And in FC4 you cant just type ntpdate, as no matter what, it just says no servers are found, even though they're configured. So I tried ntpdate 0.pool.ntp.org but I get this error:

18 Oct 15:02:44 ntpdate[2646]: the NTP socket is in use, exiting

What exactly is going on? And how can I get my time set right?

It's still running (but it's lost its little mind).

Make sure you're connected to the internet, be root, run ps -ef | grep ntp, kill -9 whatever PIDs show up (check that they die). Then run ntpdate with a couple of pool servers in the argument, something like this:
It should be able to slew the clock to the correct time.

It's still running (but it's lost its little mind).

Make sure you're connected to the internet, be root, run ps -ef | grep ntp, kill -9 whatever PIDs show up (check that they die). Then run ntpdate with a couple of pool servers in the argument, something like this:
It should be able to slew the clock to the correct time.