Today many people are taking it to improve memory and enhance mental alertness, and besides having a range of medicinal properties, it is also being used today to treat the early symptoms of Alzheimer's disease.

Herbalists have traditionally made use of the entire plant to relieve muscle cramping, and as a diuretic in kidney and liver complaints, etc.

It improves memory (both short term and long term memory), enhances mental alertness, improves focus, attention and concentration.

It also shields brain cells from injury and therefore may be useful in treating strokes and epilepsy.

It contains an alkaloid shown to improve cognitive function, and can enhance lucid dreaming.

Some Lycopodium alkaloids are potent inhibitors of acetylcholinesterase (AChE).
Acetylcholine Esterase inhibitors (AChEls) inhibit the normal metabolic inactivation of Acetylcholine (ACh), by inhibiting the enzyme Acetylcholine Esterase (AChE), leading to accumulation of Ach.
Ach is well known to be important in REM (rapid eye movement stage of sleep) and thus is suggested to enhance dreaming and lucidity.

Myths and Legends :
Known as Wolf's Claw it is an ancient magical plant of the Celtic druids.
In Europe, Lycopodium clavatum has various vernacular names which suggest ancient uses in pagan rituals. These names allude to witchcraft: 'spirit' or 'witch herb', 'snake moss'; 'devil ash', etc.

In Southern Africa the Zulu's snuff this herb for magical purposes.
The Sotho's mix it with Selaginella sp. and smoke it for headaches.

Physiological effects :
Direct application is reported to relieve skin irritation.
It is reported to be mildly diuretic and soothing for inflammations of the bladder.
The alkaloid lycopodine can cause uterine contractions, so is not to be used by pregnant women.