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Wiping it with a "soft, lint-free cloth"
Waiting for it to dry before opening the SIM card tray
Don't charge it until it's completely dry -- go ahead and use a fan, but not a heater
Wait for the water to drain and dry from the speaker port (audio may sound muffled)
Buy Apple Care Plus

Waterproof isn't really waterproof
Finally, an important word on "waterproofing". The phone world is guilty of using that term interchangeably with "water-resistance," which is what it really is.

What would you do if your iPhone gets wet?

What I'm worried is the data that I saved on the water damaged iPhone.

Yes, iPhone data is important, I think you should back up your iPhone from time to time.
Back up/Restore in Toolbox of 3uTools could help you that.
Check here:http://www.3u.com/tutorial/articles/1671/how-to-back-up-your-iphone-before-installing-ios-10.3
Then you can restore it anytime.