Demo

Direction

1. Open file that you want to add water drops or you can use mine.

2. Create new layer > click Brush Tool > set any foreground color and paint like this.

3. Click > Blending Options... > use this setting.

4. Select Drop Shadow, use these settings.

5. Now go to Inner Shadow, use these settings.

6. Go on to Inner Glow.

7. Go on to Bevel and Emboss.

8. Got this? :-)