[coffeemonkey]

Put your iPhone in a ziplock bag with a bunch of silica gel, like, fill the ziplock bag with it to completely cover the phone (there are some types of cat litter that are all silica gel, cheaper way to buy it). Leave it in the bag for a few days and then try to use it.

The thing to do after dropping an electronic device in water is to not try to turn it on! That could fry it right there. If you are able to dry it out, many times the device will still work. Salt water? Maybe not, but it is worth a try.