The "clock spring" isn't actually a clock spring, it just looks like the mainspring inside of a mechanical watch. It is a length of flexible printed circuit conductor film wound up in the shape of a spring, and used to route circuits to and from the rotating steering wheel. As you turn the steering wheel, the "spring" becomes larger or smaller in daimeter as it winds/unwinds around the steering column.
The alternative (used in the "old days") is a set of sliding contacts similar to the brushes in your starter motor. These were fine for the horn switch, but not considered relaible enough for air bag power.