Here's another water droplet recipe:
1) Create a new level
2) Add guassian, monochromatic noise 200%-400%
3) Apply Guassian blur, 3-5 pixel radius
4) Adjust->Threshold - Adjust slider 'til you get the size drops you want
5) Magic Wand select the background, clear it
6) Invert selection, fill droplets with a light gray
7) Apply another guassian blur with droplets selected
8) stroke on inside with medium gray 2 px stroke
9) emboss using height of 3
10) apply plastic wrap 18, 11, 11
11) Unsharp Mask 200,2,1
12) Hard or soft light on water drops, opacity to taste
example:
http://www.jackzucker.com/images/water2.jpg