My car started loosing water pressure (water boiling) suddenly. I decided to check under the hood and noticed the lower front of the engine was covered in rust. I reached under the water pump and felt water under the water pump and dropping on the opti

Today I took off the water pump and this is what I found. I'm thinking it's leaking from the driveshaft that spins the waterpump. Is there a seal in there and is it replaceable? The pump is around 1 year old

 

I don't think there is a servicable seal in there, you'll have to replace the pump. Most places sell lifetime warranty pumps...hopefully thats what you have and you have the receipt
Make sure the pump you do get, that the shaft is easily turned by hand and its not the defective Bosch pump with a super tight shaft that will chew up your wp gear inside the timing cover.

And be sure to remove the shaft coupler thats on the wp in those pics...that doesn't come with a new pump.

 

go with an electric water pump...

 

that's what i told him

 

When is the last time that cooling system was flushed?! Are you just running straight water?