If you cannot overclock through BIOS options then using third party OS based OC tool to raise the CPU core frequency would more than likely corrupt your BIOS as some proprietry branded systems have the BIOS parameters (Dell, HP, Acer etc.) assuming you aren't locked out altogether.
This protects the manufacturer's warranty and negates having to install anything other than the rudimentary cooling options usually found on these systems.
If you still want to try and i strongly advise against it then you must treat the OC'ing as you would a BIOS flash as well as overclocking as you may not be able to restore the BIOS defaults after your little adventure.
First- back up everything. Even if you manage to overclock, it could result in data corruption.
Second- The first boot device has to be floppy disc, CD or USB (if your board supports this) and you need a bootable copy of the BIOS on the medium you choose. If your OC bricks the BIOS you may be able to reflash- but you'll only be able to do this if your harddrive is NOT first boot.
Any overclock (if any) will be minimal. Overclocking the CPU automatically overclocks the MCH (northbridge). Raising MCH voltage will cause RAM instability, so will more than likely require more relaxed timings an/or increased DRAM voltage. Bog standard generic RAM probably won;t give you the leeway to do much (if any) of either-mainly because it was picked for a system where (theoretically) it wouldn't be called upon to run at anything but stock timings and a JEDEC rated 1.8 volts.
It's never a good idea to clock from inside the OS. Newer chipsets (P55/X58) give you more leeway in that respect because of their on-die memory controller, but on older chipsets there are a lot of variables to take into account for a 24/7 stable overclock.