The clock spring is a spiral-shaped electrical connector located in the steering wheel. It allows for the safe rotation of the steering wheel while maintaining electrical contact to the airbag, cruise control, and horn circuits. If it's faulty (worn contacts, broken wires, etc.), it will interrupt these functions.
While you've checked the fuses, and that's a good first step, the problem is likely *after* the fuse, within the clock spring itself. A faulty clock spring is a common cause of this specific combination of symptoms.
What to do next:
* Professional Diagnosis: The best course of action is to have a qualified mechanic diagnose the issue. They have the tools and expertise to properly test the clock spring and other related components. Trying to repair a clock spring yourself can be difficult and potentially risky (airbag safety!).
* Visual Inspection (Careful!): You *could* try a very careful visual inspection of the clock spring connection points under the steering wheel, but only if you're comfortable working with car electrical systems and understand the risks involved. Disconnecting the airbag system incorrectly can be dangerous.
Don't drive the vehicle with a malfunctioning airbag system. Get it checked and fixed promptly. The horn and cruise control are secondary concerns compared to the safety implication of the airbag light.