Tighten the loose ignition key switch. Typically the ignition key switch is an encapsulated assembly and cannot be repaired. If the switch or its wiring has been damaged--which is likely if it has been repeatedly wound up by rotating the switch while the wiring is fixed in place--then replace the switch and any damaged wiring assemblies. Some wiring assemblies can be repaired if you have skill at repair of wiring and connectors, can find replacement connectors, and can accomplish the repair without introducing too many unreliable in-line butt splices into the wiring. Generally butt-splices should be avoided if at all possible.
The clicking sound from the engine that occurs when the ignition key switch is moved to START is most likely from the solenoid.
The failure of the starter motor to operate when the solenoid that controls it has actuated is an electrical problem. For help with electrical problem please use SMALL BOAT ELECTRICAL forum.
I have written a detailed description of the engine starting circuit at
http://continuouswave.com/whaler/refere ... Start.htmlThe article describes about 50 circuit elements that can cause a failure in engine starting. If you are familiar with basic electrical testing and diagnosis of circuitry, the article will give you more than 50 suggestions where to look for a cause of no cranking.
To understand the meaning of any aural alert sounds from the outboard engine consult the operator's guide; it will explain the meaning of any alert.