Two places where I will never touch my cell phone: In a bathroom and at the edge of the subway platform. I've heard too many tales of people dropping their mobiles onto the tracks or into the toilet, and I'd rather wait until I'm well clear of either of those environments before checking voicemail or sending a text.
For the bathroom-butterfingers among us, a Japanese company called JMC Risk Solutions has invented a "Dryer Box" that will reportedly remove the moisture from a soaked phone, restoring it to life in about 30 minutes. The box is intended to be installed at electronics shops around Tokyo and available to use for roughly 12 dollars, though there's no charge if the phone stays broken.
For those who'd rather DIY a wet phone, the general internet consensus seems to be that you need only place your phone in a container of dry rice, which will apparently absorb the moisture. (As an alternative you can also reportedly place your sopping phone in a container of those little Silica Gel packets, but I can never save enough of those as I always immediately eat them.) Check out PopMech's short "How to Save your Wet Cell Phone" article for more info.