Cleaning and Stain Removal - Musty Smell in basement carpet

Due to recent storm activity, we had a small amount of water come into our walkout finished basement. Only the carpet got wet; the water never went any higher into walls etc. Since we have a full walkout that faces west, the carpet is now dry (with the help of my shopvac to extract water). We are left with a musty smell that I would like to get rid of. Is there any kind of formula I could mix up to clean the carpet? We have a carpet cleaner. Has anyone ever tried the product called Knock-out? It supposedly is an odor remover that was recommended in our local newspaper. I do not see any evidence of mold forming anywhere as this room gets lots of sunlight and fresh air, but I would like to get rid of the smell. Thank you.

Is there pad under the carpet or is it glued down?

There is pad under the carpet; it is not glued down. Thx.

Dobczeman

You need to pull up the carpet. Once carpet pad has gotten musty, mildewy or absorbed a stain, it needs to be replaced. Wouldn't be bad to have a pro come and clean both sides of the carpet before it's tacked back down.

see heres the issue...how many days has it been?? if its storm run off...most pros will tell you its a replace issue due to mold liabilty...padding is a must...pull carpet back and toss it...then check your lower walls...tack strips are made of wood..they made have to be replaced...the carpet may be saved but if its been awhile that may be questionable

pull carpet back or completely out if its that bad..pull padding...place serveral debumidifers and fans on the subfloor...let dry serveral days...then seal subfloor to prevent further wicking of moisture..replace padding...hire a professional to clean carpet...or do the whole thing

homeowers may come in handy here...if you hire a pro to do all this..you may be looking on the order of 1k+