Fresh water probably doesn't do too much in limited exposure and with a thorough drying out ASAP.
Now, salt water is another story. Even a very limited exposure to salt water can be bad Mojo, even for lights w/o circuitry. The corrosion can be amazing and fast.
Here's a tip from my (long ago and partially mis-spent) youth, when I was into sports and nature photography -- remove the bezel (or use a filter/tip off cover), take a heavy duty plastic zipper bag, put the light in it, put the bezel or filter back on the light so that it cuts a hole out of the bag, close up the bag and you're good to go in most wet conditions. I used to do that by using a screw on filter over the camera lens. It cuts out a perfect hole and leaves what's in the bag easy to use. It is not waterproof, but it is certainly weather resistant and very cheap.
Be sure to try a few different size bags since getting one that's too tight makes it hard to use the switch and to be able to focus the beam. Trust me, the first one you choose is probably going to be too small, so play with a few different sizes of bags to see what works best. Sometimes one that seems way too big actually is the best choice -- remember, the bezel or filter is going to firmly hold the bag to the business end of the light so extra room won't be as big a deal as you might think it would be and works to your advantage by making it easier to work the light. I used to use this trick with a Nikon camera with no problems and could use the camera easily in a downpour, and it works well with most lights, too.