I have done well with KT Tape. I just followed the included directions for knee-taping and kept on running. The key is applying it with just the right amount of stretch.
I also tried a few kinds of knee braces and they solve the knee problem but gave me other problems - besides being annoying.
In addition to what everyone else has said(tape, proper shoes....), I'd suggest getting a foam roller and rolling out your IT band (even though it's pretty painful). That will help to loosen things up a bit...also research stretches, there are some really helpful YouTube videos.
I have had multiple issues with my knees. The biggest reason was due to poor running form and poor running shoes. There are plenty of resources on youtube to better correct your running form and going to a specilaty shoe store to see what shoes work best for you. Other things that helped was stretching, foam rolling, and accupuncture.