An accurate volt meter on a running motor should read a lot more than 12 volts. Your dashboard voltmeter may not be that accurate so you should check with something accurate, a cheap Radio Shack digital meter is plenty good. I can't remember the exact number but charging voltages should be around 14 volts. Any less and your alternator is not working. Did you accidently set your battery switch to OFF when the engine was running. Even if just for a second, that can burn out the alternator diodes.
A good alternator shop can rebuild it for you, just make sure you don't put an automobile alternator in there. I'm pretty sure the alternator is one of the electrical parts that must be marine, to prevent explosions from gas fumes.
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