It is very important that you keep water away from your leather shoes, that it if you really love your shoes and unless you are fabulously rich and can afford much of them.

For you to be able to save your shoe soaked wet in the waters, you need to make it dry, re-shape it and lastly moisturize it to restore the lost oils.

Actually, it is not the water that ruins your shoes but improper drying.  The proper way to dry your wet shoe is to blot off as much water from the shoes as you can.  You can use a towel or a paper towel to do this.  Then, put it in an airy place and let it dry there.

Don’t put the shoes on hot places.  Never sun-dry your leather shoes because too much sun exposure can toast your shoes.

Stuff your shoes with tissue or paper towel to regain its original shape.  When they are already dry, put a small amount of leather cream on the shoe to regain its lost oils.  Or you can also use unscented hand-and-body lotion if you don’t have a leather cream.  This will likewise put back the shoes’ suppleness.