Water and technology don't mix. If you drop your iPhone in a lake, pond, toilet, or martini, there's a fantastic chance it will end up being completely destroyed. Many of the little electrical bits inside the device don't take kindly to be drenched, especially if it leads to a short. However, as Rob Griffiths of Macworld discovered, sometimes all is not lost.
His story on the premature death, rescue, autopsy, and unlikely resurrection of his iPhone 5 is definitely worth a read in its entirety, but if you're too pressed for time, at least take this small tidbit of information with you: Complete disassembly and a thorough blasting with compressed air can be the magic touch.
Also, it helps if you drop your phone took a bath in fresh water, as opposed to the ocean. Saltwater is infinitely more deadly for an unprotected smartphone, so keep that in mind.
[Photo credit: TeppoTK]