Concrete walkway along house

[Melvin Kim]

Looking for recommendations from flippers: there's a concrete walkway next to my house that looks like the previous owner "sealed" the house with asphalt. The asphalt now has a crack that runs the length of the house that I'm pretty sure water is getting in through. 

How would you fix this? I'm thinking of either removing the asphalt with a chisel, filling it with foam, and then sealing it with roof sealant.

Does anyone have any other ideas? Below is a picture of a section of what I'm talking about.