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Hi, I just want to share my experience because I was desperate, like many others hoping to find a solution online. My water bottle leaked in my bag, and my Mac Pro got soaked. When I turned on my Mac, it started to work but then began to flash, and I could see a 3 cm wide water mark from the bottom of the screen to the top. I took it to the Apple Store on the first day, and the person at the Genius Bar said that water had damaged the chip, which is the most severe type of damage. He suggested I replace the Mac because fixing it would cost more than $1,500. However, he also suggested I try some popular methods like air drying or using low heat from a blow dryer to see if I could have any luck. But the downside is, even if it seems to work, you don't know when the chip damage might become apparent.
So I went back home and tried blow drying with low heat. But then I noticed the water mark had deepened toward the top of the screen, which didn't look good to me. Then I switched to the rice method. I submerged my Mac in rice for two weeks and never opened it once in the middle. After two weeks, when I took it out, I found bits of rice inside my PC. I shook it in all directions hundreds of times until all the rice came out from the HDMI/USB ports, and I heard no more rice inside it. When I turned on the Mac, the magic happened! The water marks were gone completely, and I could use my Mac as well as before. I've been using it for 3 months now as if nothing had happened.
I think the rice did the trick. I know my case isn't the golden way to treat such issues, and maybe I just got lucky. But if you're at your last resort and would otherwise throw it away, you could also try it.