DIY - Save a Wet Cell Phone using Rice
So, you dropped your phone in water. You are screwed, right? Nope, just order some Chinese Food, and you're good to go - Sort of. Actually, submerging your phone in dry rice or silica gel packets are a simple, effective way to resurrect your phone. Moisture absorbant silica gel packets can be purchased for a few bucks and effectively dry your phone. Dry rice has this same affect as well and helps to unbrick your phone. Read more about saving a wet cell phone.
For further reading, also see What to do if you spill liquid on your laptop.
"One final, perhaps surprising, note: If your phone gets soaked in salt water, you should probably flush the whole thing in fresh water before it dries. When salt water evaporates, it leaves crystals that can damage a phone's fragile components. Just be sure to remove the battery before flooding the device."