water (n.1) Look up water at Dictionary.com
O.E. węter, from P.Gmc. *watar (cf. O.S. watar, O.Fris. wetir, Du. water, O.H.G. wazzar, Ger. Wasser, O.N. vatn, Goth. wato "water"), from PIE *wodor/*wedor/*uder-, from root *wed- (cf. Hittite watar, Skt. udnah, Gk. hydor, O.C.S., Rus. voda, Lith. vanduo, O.Prus. wundan, Gael. uisge "water;" L. unda "wave"). Linguists believe PIE had two root words for water: *ap- and *wed-. The first (preserved in Skt. apah) was "animate," referring to water as a living force; the latter referred to it as an inanimate substance. The same was probably true of fire (n.). To keep (one's) head above water in the fig. sense is recorded from 1742. Water cooler is recorded from 1846; water polo from 1884; water torture from 1928. First record of water-closet is from 1755. Water-ice as a confection is from 1818. Watering-place is 1440, of animals, 1757, of persons. Water-lily first attested 1549. Waterfront is attested from 1856.
water (v.) Look up water at Dictionary.com
O.E. węterian (see water (n.1)). Meaning "to dilute" is attested from late 14c.; now usually as water down (1850). To make water "urinate" is recorded from early 15c.
water (n.2) Look up water at Dictionary.com
measure of quality of a diamond, 1607, from water (n.1), perhaps as a transl. of Arabic ma' "water," which also is used in the sense "lustre, splendor."