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I have made a formula field to populate the date to today when a checked box is true and get locked its changing everytime its edited and saved.

Like if the checkbox was true on 8/7/2015 It changes the date to 9/7/2015 when a lead is saved again

IF((Do_Not_Contact__c = True ),Today(), Null)
8

Your formula evaluates every time you retrieve it's value. So at any point in time your formula will evaluate today() which will be the actual date/time.

The solution would be to create a workflow that updates a new date field with the same formula, that way you time stamp it, then make the new date field read only on the page layout.

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