depending on how bad it has been damaged. dried mine really quick with a soft towel to soak the water then threw it inside a dry box with plenty of silica gel. still got good prints out of it.
It shouldn't be a problem at all. Get a bottle of negative (film) cleaner and clean the negatives. Ask at any good photolab where to obtain the cleaner. This will get rid of any watermarking. You can also soak the negs for a couple of minutes in distilled water, hang up to dry and then clean with neg cleaner if they are very watermarked.