Low Water Damage
Some kinds of plasma screen water damage are definitely fixable. When a small amount of water manages to penetrate the screen and gain access to the "innards" of the plasma TV, you'll want to follow a series of steps to see what happens next:
1. IMMEDIATELY shut off the television. This will ensure that the water has limited access to the electrical components to create any kind of horrible screen-destroying short circuit.
2. Once the TV is off, leave it off for up to 3 weeks in order to allow drying. Do not attempt to use hair dryers or air blowers of any kind, as that could cause additional problems that you don't need.
3. After the 3 week period has passed, try to turn the TV back on and see what happens, be on the lookout for any kind of dark circles or dark areas on the TV that will indicate permanent water damage to the TV.
Should the TV work well for a continued amount of use (like say a week or so), there's a good chance you're in the clear in terms of water damage. However, if dark circles start to appear, you undoubtedly have water damage in the TV, which can lead to either living with the damage or replacing the TV. So then, what happens if your TV sustains a large amount of water damage?