Water Damage

Do not turn it on. Put it in a bag of uncooked rice or silica for 3-5 days. Hopefully it will start up and you will be able to back it up. In any case this is not foolproof, and even if it works after this procedure, there is no guarantee that it will not fail in the future.

Therefore I suggest that if you value your data you take it in to an Apple store for an out of warranty replacement after you have managed to back it up.

Then get some. If you turn it on, your risk making a bad situation, worse. Your call.

Your iPhone is not waterproof and water does wonders for electronic components.

Water and electronics to not work well together, if it is still wet inside and you turn it on you will be almost guaranteed of a short circuit. Then it will not be usable at all. Folow Felipe's advice as a short=term fix for the purpose of backing up. But you definitely need to get it into an Apple store genius bar.

If it is responding to iTunes, back it up NOW. Then go to the Apple store as Ralph has said.

You can try connecting in recovery mode per http://support.apple.com/kb/HT1212 and prceed to backup.

Price for replacement depends on the country you are in and if you have AppleCare+ extended care.

iCloud does not back up everything. If you can, do a iTunes backup. Follow the instruction in the article Ralph has linked to.

kickin_koolin wrote:

I did that just now...

The steps in recovery mode? Sometimes you have to go through that procedure more than once to get it to work fully.

And...?

Seems that your phone is fried. Nothing much to do except get a new one. Hope you have a recent backup...